The Real Estate News Brief: 22-Year High for Key Rate, Changing Fed Forecast, IRS Changes Surprise Visit Policy

In this Real Estate News Brief for the week ending July 29th, 2023… the Fed's latest rate hike, how the central bank's economic forecast has changed, and good news about the dreaded IRS "knock on the door." We begin with economic news from this past week and a Fed meeting that resulted in yet another rate hike. The Federal Reserve raised the benchmark rate a quarter point, to a range of 5.25% to 5.5%. That's the highest it's been in 22 years. In a news conference after the meeting, Fed Chief Jerome Powell said that inflation has moderated somewhat, but the 2% target is still a ways off. He wouldn't say whether Fed officials are leaning toward another rate hike in September. He said it would be a meeting-by-meeting data-driven decision... Please remember to hit the subscribe button, and leave a review! If you want to learn more about how you can become a wealth-building real estate investor, hit the join for free button on our website. Thanks for listening. I'm Kathy Fettke. Links: https://www.cnbc.com/2023/07/26/fed-meeting-july-2023-.html?&qsearchterm=fed%20approved%20hike%20that%20takes https://www.marketwatch.com/story/fed-no-longer-sees-a-recession-and-other-things-we-learned-from-powells-press-conference-ef98d718 https://www.marketwatch.com/picks/were-already-seeing-some-cds-with-5-75-apy-now-that-the-fed-hiked-interest-rates-again-might-rates-climb-higher-de14c37f https://www.marketwatch.com/story/gdp-increases-at-2-4-annual-pace-in-the-second-quarter-7e548aed?mod=home-page https://www.marketwatch.com/story/u-s-inflation-slows-again-pce-shows-966aa14c?mod=economy-politics https://www.marketwatch.com/story/jobless-claims-drop-to-the-lowest-level-since-february-51cea584?mod=economic-report https://www.marketwatch.com/story/s-p-case-shiller-shows-u-s-home-prices-up-for-fourth-straight-month-in-may-9190cfd0 https://www.marketwatch.com/story/newly-built-u-s-home-sales-fall-in-june-6123fd72 https://www.nar.realtor/magazine/real-estate-news/economy/nar-economist-housing-recession-is-over https://www.freddiemac.com/pmms https://www.marketwatch.com/story/the-housing-recession-is-over-real-estate-group-says-as-pending-home-sales-tick-up-for-the-first-time-in-4-months-2d4cce4f https://www.bisnow.com/national/news/office/landlord-finances-owners-open-books-119930 https://www.bisnow.com/national/news/office/amazon-return-to-office-relocating-workers-major-downtown-hubs-119926 https://www.irs.gov/newsroom/irs-ends-unannounced-revenue-officer-visits-to-taxpayers-major-change-to-end-confusion-enhance-safety-as-part-of-larger-agency-transformation-efforts