The Fed Raises Interest Rates to 5.25%

Date:

On May 3, the Federal Reserve issued another key interest rate boost of 0.25%, pointing to sustained strong inflation.

Edensaw Woods - Marine Plywood & Lumber Yard Supply in Washington State (WA)

Interest rates are now at their highest level in 16 years, at 5.25%. They last reached this level during the Great Recession.

Significantly, the Fed omitted the phrase “anticipates” further rate hikes from its policy statement announcing the increase, instead stating that it will consider “the extent to which additional policy firming may be appropriate.”

“We on the committee believe that inflation will come down gradually, over time,” Fed Chair Jerome Powell told reporters. “…if that forecast is broadly correct, cutting rates this year would be inappropriate.”


Amazing Builder Partners



Owen Everett
Owen Everett
Owen is one of our main correspondents based out of New York.

Popular

Share post:

More like this
Related

Inflation Remains High as Housing Costs Continue to Rise

Despite a slowing in year-over-year growth, shelter costs continue...

Zoom Drain Establishes a New Franchise Site in Jacksonville, Florida

Zoom Drain, a prominent provider of drain and sewer...

First Coastal Exteriors Joins Beacon

Beacon announced the completion of its acquisition of First...

Kodiak Building Partners acquires Don’s Appliances

Kodiak Building Partners, a distributor of building materials and...

East Texas Hardware Acquired by Nation’s Best

East Texas Hardware has been added to Nation's Best's...

Accoya USA sets ground on a new facility in Tennessee

Accoya USA LLC started work on its US production...

Lennar Introduces New Single-Family Houses and Models in Shearwater

Lennar, one of the nation's leading homebuilders, has recently...

D.R. Horton’s Siding is Now Supplied by James Hardie

The largest fiber cement home siding company in North...

NAHB: Majority of Single-Family Homes Built this Year were for Baby Boomers

According to the National Association of Home Builders, an...

JELD-WEN One of Newsweek’s Most Trustworthy Companies for 2023

For the second year in a row, JELD-WEN Holding,...

Beacon Opens Three New Greenfield Sites

Beacon has launched new locations to serve home builders...

Colony Hardware Acquires New South Construction Supplies

Jim Sobeck, the owner of New South Construction Supply...

Beacon Opens New Location in West Bend, Wisconsin

Beacon has launched a new branch in West Bend,...

Kodiak Building Partners acquires DHI

Kodiak Building Partners, a building materials distribution acquisition firm...

RoyOMartin invests $9.5M to modernize manufacturing facility in Louisiana

Martco, LLC, the parent company of RoyOMartin, a third-generation,...

Lugbill Supply Center celebrates grand reopening event

On September 23, Lugbill Supply Center in Archbold, Ohio,...