No Clear Path from Fed
Unemployment up, rate relief delayed again
Quiet Start to the Week
Monday and Tuesday were relatively uneventful. But the rest of the week delivered plenty to talk about.
🔹 Wednesday: Fed Minutes Reveal Division
We got the Federal Reserve minutes from their last meeting — and wow, the Fed is split.
- There are 19 total members, with 12 voting members.
- From the notes, there’s likely no rate cut coming in July.
- The big takeaway? The Fed is deeply divided on the path forward.
🔹 Thursday: Unemployment Claims Keep Rising
We got new continuing unemployment claims — and the number is rising:
- 1.97 million people are actively filing for unemployment.
- This doesn’t even count the people who’ve timed out of eligibility.
That’s a troubling trend as the job market continues to show signs of softening.
🔹 Friday: Fed Governor Waller Wants Action
Fed Governor Christopher Waller came out with a strong message:
“The Fed is still too restrictive.”
He pointed out:
- Economic conditions today (inflation, unemployment) are equal to or better than when the Fed last cut rates in late 2023.
- The Fed is currently about 100 basis points too high.
- Even a 25–50 bps cut would still leave policy too tight.
Waller’s stance? Start cutting — and soon.
So When Will They Cut?
July’s likely off the table, but:
- September could be realistic if the data continues this way.
- The Fed feels late to the game, and the pressure is mounting.
Realtor Events & Updates
👉 Next week in South Denver is our final “Winning in a Buyer’s Market” class. Don’t miss it!
👉 Later this month, we launch our new “Condo Survival Guide” luncheon series — coming to Boulder, Denver, South Denver, Colorado Springs, and maybe Fort Collins.
Realtors — keep an eye out and RSVP early.
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Brian@BrianManningTeam.com
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