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The Fed Speaks,The Economy Awakens

August 5, 2025

The economic trifecta has come and gone.  Though the markets are likely to continue to react to the news, we are here to report the results of our three big economic events.  First the government released the initial measure of economic growth for the second quarter of the year. The Gross Domestic Product (GDP) is estimated to have grown by 3.0% for the quarter, a rebound from the negative first quarter. If this number holds up through two revisions, this means that the economy is showing a 1.75% growth rate for the first half of the year.  It is hard to assess how strong the economy is with businesses reacting to tariff warnings and implementations, which are changing the import numbers significantly.

US Federal Reserve interest rates 2021

How did the Federal Reserve react to the rebound on the very same day? The Fed concluded their meeting with an announcement that short-term rates will remain the same, which was not unexpected.  In the announcement accompanying their decision, the Fed indicated that they continue to weigh the potential effects of tariffs on inflation.There was also another measure of inflation which was released last week after the Fed concluded their meeting.  The PCE Inflation Index indicated that expenditure inflation rose 0.3% last month and 2.8% year-over-year, higher than the Fed’s 2.0% target. Personal spending rose 0.3% as well.  

Finally, Friday’s employment report provided the third leg of the trifecta. The economy added 73,000 jobs last month and the past two months were revised downward by a huge 258,000 jobs.  The unemployment rate remained at 4.2%.  Wage inflation increased 0.3% from last month and 3.9% year-over-year.  Overall, this report was much weaker than forecasted. Could the Fed’s decision been different if they had access to these numbers before their meeting? On the other hand, it looks like the inflation battle continues.

Source: Origination Pro

Call: (718) 943-9200

Queens Mortgage Broker

We are your local neighborhood mortgage loan experts.  We live and work in Astoria, Queens NY and surrounding neighborhoods and are dedicated to seeing our community grow and prosper.

AMERIMUTUAL MORTGAGE (NMLS# 148447) Address: 18-33 41st Street, 2nd Floor, Astoria, NY 11105   Tel: (718) 943-9200   Fax: (718) 204 – 0657

Backed by a long history of integrity and driven by a commitment to enrich the community of Astoria Queens and the surrounding neighborhoods of Queens, Brooklyn, NYC and Long Island, AMERIMUTUAL Mortgage is family-owned and operated local business that is proud to make a difference by matching home buyers with the right mortgage products for their needs.

As a respected leader in the NYC, New York lending business, AMERIMUTUAL has been successful in revolutionizing the industry one mortgage at a time. Our company values are grounded in the principles of honesty and fair dealing.  For you, this means responsible lending with reasonable fees and you can enjoy a worry-free lending experience from a local Astoria, NY business you can trust.

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Testimonials

Eli N

Benny and Phil were great to work with! they assisted us in every aspect of the process even when it wasn’t their job. They explained every step and guided/advised us on the best course of action. Their fees were more than fair and their integrity was at a level far above ANY lawyer or mortgage broker we have ever dealt with.

Joe D.

Philip Loria made the mortgage process quick and easy, and also found ways to save us money. He was always on top of things, very accessible, and his communication is top notch. I will recommend Philip Loria and Amerimutual Mortgage highly to any of my friends, family or colleagues.

Joe D. Long Island, NY
Ninfa Brusca

Philip and Benny Loria were very knowledgeable and professional. They exceeded all our expectations and were a pleasure to work with. They were both were just genuinely nice guys. They listened to all our concerns and did everything in their power to accommodate our needs and make feel comfortable throughout the whole mortgage process. I recommend Amerimutual Mortgage to anyone who is looking for a mortgage.

Ninfa Brusca Tuckahoe, NY
Lenny P., Occupation: Real Estate Development

Richard, I wanted to thank you for all your help and hard work. I am so glad our refinance was a success. You were very diligent and dedicated to getting me the best rate possible. I truly enjoyed working with you and will recommend your services to all our friends and family.

Lenny P., Rye, New York
Nick Tsatsaronis

Philip Loria, assisted me with my refinance. Thank you so much for all of your time and hard work. You made refinancing my house easy and stress free. I wouldn’t recommend anyone else. I will definitely use Amerimutual Mortgage for any future needs, and recommend them to anyone who needs a mortgage.

Nick Tsatsaronis Flushing, NY
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