(Read more on the debt and equitymarkets.)
WASHINGTON, DC-Citing an intensification of the housingcorrection, and increase in energy and commodity price, the FederalOpen Market Committee is lowering its target for the federal fundsrate 25 basis points to 4.5%. This cut follows one in September,the Committee lowered its target for the federal funds rate by alarger than expected 50 basis points to 4.8%, as GlobeSt.compreviously reported.
The earlier cuts by the Federal Reserve Board were widely laudednot only in the commercial real estate industry, but throughoutmost sectors in the economy. Indeed, anecdotally at least, therewas a sense that the credit crunch was easing after the first dropin interest rates. That was then, though. This time around, notmany players are expecting to see a huge impact.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
