Fed keeps mortgage-backed purchases at $85B per month The Federal Reserve said in its statement, "To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month."
BofA/Merrill to hold a conference 2015 Payments & Card Conference is being held in Scottsdale, AZ on May 18-20.
Futures slightly lower ahead of opening of new week U.S. equity futures are below fair value following a weekend of quiet news flow. The first quarter earnings season is winding down and investors are beginning to look forward to the long Memorial Day weekend. Today’s focus will be on the housing data due out at 10:00am EDT with the release of the NAHB housing market index. Many have expressed concern that the housing rebound will remain muted for the foreseeable future as the Fed gears up to begin raising interest rates.