Senior Housing News September 18, 2024
The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points, setting the stage for an uptick in senior living lending and dealmaking.
With the Fed’s announcement Wednesday, the U.S. central bank lowered the target range for federal funds to 4.75% to 5%.
The Fed had previously held off on enacting rate cuts since March 2020, tying any future cuts to inflation. On Wednesday, Fed Chair Jerome Powell said the Fed sees the risks to achieving its employment and inflation goals as “roughly in balance,” which in part led to Wednesday’s action.
“This recalibration of our policy stance will help maintain the strength of the economy and the labor market, and enable further progress on inflation,” Powell said.
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