InvestingMarkets & Economy

5 things to know about today’s rate meeting — and 5 to ignore

Will rates go up or down -- and does it really matter for housing?
  • Whether rates rise at this meeting won't affect the market much; what the Fed plans to do in the future will, though.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Federal Reserve is meeting for its September conclave today. On the agenda: What will happen to interest rates? What to know 1. “The Fed” includes 12 regional Federal Reserves. Their locations are a map of the U.S. economy in 1912, only three west of Chicago and one west of Dallas. They each have their own boards of directors and presidents drawn from their local regions. There are a few bright lights among the regional presidents (very few). The New York Fed president is close to policy decisions -- but ignore all of the others, despite important-sounding news coverage. 2. Fed decisions are made by the chair, vice chair and five other governors appointed by the President and confirmed by the Senate. The Fed today is short-handed by two; rock-headed Senator Shelby, chair of Senate Banking, refusing to forward good Obama appointments. This group very rarely dissents from a chair decision. Hang on to every public word! 3. Whether the Fed hikes or not at this mee...