After 325 basis points of rate hikes, 75 basis points [of additional hikes] is not a large move. |
Maybe the tone will give us some sense of whether its June or August that the Fed will raise rates. |
There is more uncertainty because the Fed keeps saying they're concerned about inflation. |
There's nothing new from what we saw in the statement -- the downturn in growth is temporary, policy is still accommodative and they can remove stimulus at a measured pace. |
We're waiting for ECI. It's deadly quiet. |
You're seeing buyers cut their prices to get their homes sold on the existing side of the market, but the price declines are not as bad for new homes. |