Technology

Fed’s Concern Over Mortgage Markets Grows 

Recently released minutes from the FOMC’s August 7 policy meeting show that the Federal Reserve is becoming increasingly concerned about the impact of the mortgage crisis on the overall economy. It’s interesting to note that the Committee still saw inflation as the primary risk at that time, although that stance seems to have changed quickly in light of a 50 basis point cut in the discount rate on August 17. Relevant highlights from the minutes: