by Bill McBride on 3/08/2016 03:37:00 PM
Tuesday, March 08, 2016
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
It is pretty clear that there will not be a rate hike at the FOMC meeting next week, but the Fed will want to keep the April and June meetings in play.
From Jon Hilsenrath at the WSJ: Fed Likely to Stand Pat on Rates, Keep Options Open for April or June
Federal Reserve officials are likely to hold short-term interest rates steady at their policy meeting next week and leave open-ended when they’ll next raise rates given their uncertainties about markets and global growth.
For Fed Chairwoman Janet Yellen, that likely means crafting a message that gives the central bank flexibility to lift rates in April or June should the economy perform well in the weeks ahead, without committing to a move in case economic data disappoint or new market turmoil erupts.