It’s obvious the whole thing is rigged - inflation is out of control and rates MUST go up but we can’t make Biden look bad in an election year.
Even if you dropped rates by 1-point...it does little to ‘thrill’ the general public. You’d have to go 2-to-2.5 points down, then shock everyone in January with a 2-point rise, and later in June 2025...another point up on top of that.
What you will see for the next five years...a massive slowdown in home sales, and a bunch of folks crying over the down-payment deal of 25-percent to get a decent monthly cost.
Yep. The Deep State - oops, I mean the Fed - will not act in the best interest of the economy. The Fed will act in the best interest of Biden.
Of course. Where there is a hard choice to be made, Politics trumps economics any time.