This week, the Federal Housing Market Committee will have its last meeting of the year and many market watchers also anticipate a final interest rate hike of 2018. Despite expectations, however, President Donald Trump has appealed to the Committee to hold.
“You have to understand, we're fighting some trade battles and we're winning. But I need accommodation too," said President Trump, referencing ongoing negotiations with China.
In public comments, Fed Chairman Jerome Powell has remained firm that the hikes are needed and necessary. “Sound policymaking is as much about managing risks as it is about responding to the baseline forecast,” Powell said.
The Fed’s final decision will be announced Wednesday at 2 p.m. EST.
Here’s what else is coming in the week ahead:
- HUD 2018 Annual Homeless Assessment Report to Congress, 8 a.m. EST
- NAHB/Wells Fargo Housing Market Index, Monday, 10 a.m. EST
- First American Real House Price Index, Monday, 10 a.m. EST
- Census Bureau Housing Starts, Tuesday, 8:30 a.m. EST
- MBA Mortgage Apps, Wednesday, 7:30 a.m. EST
- NAR Existing Home Sales, Wednesday 10 a.m. EST
- Freddie Mac Primary Mortgage Market Survey, Thursday 10 a.m. EST
- Fed Balance Sheet, Thursday 4:30 p.m. EST