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Federal Reserve

The Federal Reserve started a rate-cutting cycle on Sept. 18, 2025, lowering its benchmark interest rate by 50 basis points (bps) to a range of 4.75% to 5%. The cut was the first since March 2020 after the Fed raised interest rates to a 23-year high point to cool the economy and quell inflation. The Fed cut rates two more times in 2024, each by 25 basis points. It has not cut interest rates so far in 2025.

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Viewpoint: Like Us, Whitney Sees Risks in FedÕ MBS Exit 

Nov 04, 2009By

HousingWire readers have already been reminded on a number of occasions that the Federal Reserve dominates the agency/GSE MBS market (and has since the purchase plan was announced almost a year ago) and that banks and would-be mortgage borrowers are first in line to be whacked when the Fed exits the MBS market. So I was thrilled yesterday when celebrated bank analyst Meredith Whitney put out an industry note that zeroes in on the Fed’s MBS purchase program; She calls the “Great Exit” the biggest market and bank risk over the next four months.

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