![\"ECB](\"https:\/\/www.mbsquoteline.com\/home\/wp-content\/uploads\/2022\/09\/ecb-raised-interest-rates-highest-levels-since-2011-mortgagetime-mbsquoteline-chart-1024x512.png\")
<\/a><\/figure><\/div>\n\n\nFed Chair Powell Remains \u201cStrongly Committed\u201d to Inflation Fight<\/h2>\n\n\n\n
As the ECB raised interest rates, the Federal Reserve continues their inflation battle, too. On Thursday, Fed Chair Powell repeated that he is “strongly committed” to fighting inflation. He emphasized the importance of reducing inflation. Additionally, Powell intends to lower inflation before the public views higher levels as normal and makes future plans based on it.<\/p>\n\n\n\n
According to Powell, Fed officials hope that higher rates bring the strong labor market back into “better balance”. Overall, Powell plans reduce outsized wage increases and lessen inflationary pressures. Moving forward, investors anticipate a 75-basis point rate hike at the September 21st<\/sup> meeting.<\/p>\n\n\n\n Aside from the Federal Reserve messaging and the ECB raising interest rates, the Institute of Supply Management (ISM) released the most significant economic report this week. In doing so, the ISM provided additional evidence that consumers shifted their spending from goods to services.<\/p>\n\n\n\n The national services sector index rose to 56.9. notably, this index came in stronger than expected. Levels above 50 indicate that the sector is expanding.<\/p>\n\n\n\n After the ECB raised interest rates, investors seek specific Federal Reserve guidance on the pace of future rate hikes and bond portfolio reduction. The Consumer Price Index (CPI) releases on Tuesday. As a monthly inflation indicator, CPI looks at the price changes for a broad range of goods and services.<\/p>\n\n\n\n Retail Sales publish on Thursday. Since consumer spending accounts for over two-thirds of U.S. economic activity, the retail sales data indicates economic health. Finally, Import Prices also come out on Thursday.<\/p>\n\n\n\n Although the European Central Bank raised interest rates to record levels, mortgage rates remained roughly unchanged. Never miss an update with MBSQuoteline. To receive by-the-minute updates on mortgage-backed securities, try our platform free for 14 days.<\/strong><\/a><\/p>\n\n\n Stay connected with MBSQuoteline on social media by following us on Facebook<\/a>, Twitter<\/a>, and LinkedIn<\/a>.<\/p>\n\n\n\n All material Copyright \u00a9 Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission. To learn more about the MortgageTime\u2122 newsletter, please contact MBSQuoteline at 800.627.1077<\/a> or info@mbsquoteline.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Although this week contained little new data, the European Central Bank (ECB) raised interest rates to their highest levels since 2011.<\/p>\n","protected":false},"author":9,"featured_media":4518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[518,442,472,538,31,56,524,73,33,441],"class_list":["post-4516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-balance-sheet-reduction","tag-consumer-spending","tag-core-cpi","tag-federal-funds-rate","tag-federal-reserve","tag-inflation","tag-interest-rates","tag-ism-services-index","tag-mbs","tag-mortgage-backed-securities-2"],"_links":{"self":[{"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/posts\/4516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/comments?post=4516"}],"version-history":[{"count":5,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/posts\/4516\/revisions"}],"predecessor-version":[{"id":4526,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/posts\/4516\/revisions\/4526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/media\/4518"}],"wp:attachment":[{"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/media?parent=4516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/categories?post=4516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mbsquoteline.com\/home\/wp-json\/wp\/v2\/tags?post=4516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ISM Reflects Consumer Shift from Goods to Services<\/h2>\n\n\n\n
Looking Ahead After ECB Raised Interest Rates<\/h2>\n\n\n\n
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