Home Builders Applaud Fed Interest Rate Cut

Washington, DC — The recent action by the Federal Reserve to ease its monetary policies is “good news for the economy and prospective home buyers seeking a piece of the American dream,” the National Association of Home Builders said.

“By cutting the federal funds and discount rate each by a half a percentage point, the Fed has sent a strong signal to financial markets and American consumers that it intends to ensure that the economy keeps moving ahead and the housing market regains its strength,” said NAHB President Brian Catalde, a home builder from El Segundo, CA.

Catalde observed that the Fed’s actions “will hopefully bolster consumer confidence, help the economy gain strength, and help the housing market begin to recover next year.”

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