THE FED SPEAKS The Federal Reserve is scheduled to deliver an update on its interest rate policy Wednesday. The remarks will follow a two-day meeting of the central bank's policymakers. At their July meeting, Fed officials cut interest rates for the first time in a decade. The Fed is widely expected to announce another quarter-point rate cut as officials move to sustain the nation's economic expansion. The Fed's benchmark rate is now at 2% to 2.25%.
HOUSING MARKET BELLWETHER Economists project that sales of previously occupied U.S. homes slowed slightly in August. Sales increased in July to a seasonally adjusted annual rate of 5.42 million as low mortgage rates enticed homebuyers. Even with lower rates, sales have been hampered this year by a shortage of homes on the market and high prices. The National Association of Realtors serves up its August tally of home sales Thursday.
Existing home sales, in millions, seasonally adjusted annual rate: March 5.21 April 5.21 May 5.36 June 5.29 July 5.42 Aug. (est.) 5.41 Source: FactSet