Today you will find me at 755 La Homa Dr. from 1-3PM. I will be wearing my 49er red and showing off this 3 bedroom, 3 bath single family residence offered at $579,000. Enjoy the private backyard, spacious rooms with lots of natural light and walking distance to Silverado Plaza and Trancas Crossings Park.
The Federal Open Market Committee, or FOMC, is the Fed's monetary policymaking body. It is responsible for formulation of a policy designed to promote stable prices and economic growth. Simply put, the FOMC manages the nation's money supply.
The federal funds rate is a benchmark interest rate. It is the rate at which American banks lend to each other in dollars. Many other interest rates are calculated from it; the federal fund rate plus 0.25 percent, for example, would be the interest rate on a loan to a large company.
This is the latest on this week’s Fed’s Reserve Meeting announcement regarding their federal funds rate…
Fed Leaves Main Rate Unchanged, Saying Policy Is Appropriate
By Craig Torres
-Powell stresses Fed not comfortable with inflation under 2%
-Says policy well positioned to serve interests of Americans
The Federal Reserve kept its key interest rate unchanged and continued to signal policy would stay on hold for the time being as the U.S. enters a presidential election year.
The central bank also made a technical adjustment to the rate it pays on banks’ reserve balances and said it would extend a program aimed at smoothing volatility in money markets -- at least through April.
“We believe monetary policy is well positioned to serve the American people,” Chairman Jerome Powell told a press conference Wednesday in Washington following the decision.
U.S. stocks climbed and then pared those gains, while yields on the 10-year Treasury declined, as did the dollar.
The target range of the federal funds rate of 1.5% to 1.75% is “appropriate to support sustained expansion of economic activity,” the Federal Open Market Committee said, repeating language from the December statement.
Fed raises interest on excess reserves by five basis points
Policy makers also changed their language to say that the current stance of monetary policy is appropriate to support “inflation returning to the committee’s symmetric 2% objective.” Previously they had said policy was supporting inflation “near” the goal.
Powell explained in his press conference that the change was made to send “a clearer signal” that the committee was not comfortable with inflation running persistently below target. “We wanted to underscore our commitment to 2% not being a ceiling,” he said.
Their preferred personal consumption expenditures price index rose 1.5% for the 12 months ending in November.
Officials approved a 5 basis-point increase on the rate they pay on excess reserves to 1.6% -- a technical adjustment designed to keep the main funds rate within its designated range. In another tweak, the Fed raised its overnight reverse repurchase rate by the same amount to 1.5%, and extended term and overnight repos at least through April. The central bank had earlier signaled such measures were possible.
In addition, the FOMC downgraded its assessment of household spending to say it has been rising at a “moderate” pace, instead of its earlier characterization of the rate as being “strong.” The committee repeated that economic activity has been rising at a “moderate” rate, with “strong labor market conditions.”
Officials gathered with financial markets on edge as a deadly virus in China weighs on its economy and could threaten global growth. Policy makers also endured another attack from President Donald Trump, facing re-election in November, who reiterated in a tweet Tuesday his latest call for the Fed to cut rates.
The FOMC decision was the panel’s second-straight unanimous vote.
Following three cuts in 2019, U.S. central bankers have said their policy is supporting the country’s record expansion despite headwinds from trade and geopolitical uncertainty.
Nonfarm payroll growth averaged 176,000 a month last year, while the unemployment rate held below 4% for most of the year.
Open Houses for this weekend are below.
And, of course, GO NINERS!
This weekend's open houses:
Saturday, February 1, 2020
Sunday, February 2, 2020
Growing up in Napa I learned the value of community. I strive to serve the neighborhoods that I grew up in and the people who desire to make Napa their home. I help people connect to the community of Napa with a focus on continuing to build the unique community of Napa and my belief that home is where your story begins.