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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Apr 19, 2001
Page
5
A surprise rate cut shocks bankers and home builders in CNY area. The move signals easier borrowing costs and boosts housing activity expectations, with lenders adjusting approval margins and researchers revising short term projections for construction lending.
The article notes the first rate cut of the year on January 3 and discusses expectations of another cut at the May 15 meeting. Analysts say the size depends on upcoming data, with fears of continued easing if financial conditions don’t improve. Fed Chair Greenspan’s approach targets market confidence after a sharp wealth decline.
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