Mark Wills breaks down Jerome Powell's Fed announcement about rate cuts and what it means for notary signing agents. Lower rates typically trigger a refinancing surge, which could mean more signing work ahead.
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If you're a notary public loan signing agent and you have not heard Jerome Powell speak about how policy needs to adjust, AKA lowering interest rates, you're going to want to watch this video. Hi there, my name is Mark Wills. I'm the largest notary public loan signing agent coach in America and I've been telling every notary it has not been a better time to be a notary public loan signing agent than right now. Why? Because interest rates are going down. So let's listen to Jerome Powell and let's break down this video together.
The economy continues to grow at a solid pace, but the inflation and labor market data show an evolving situation. The upside risks to inflation have diminished.
So the upside possibilities of inflation going up in this country is now come to a halt. Inflation has been under control. Everyone's been waiting for this moment in the past two, two and a half years. Remember, Covid pumped so much money into the economy, more money in the economy caused inflation along with supply chain issues. Let's keep going on. This is a great day.
We are attentive to the risks to both sides of our dual mandate. The time has come for policy to adjust.
The time has come for the policy to adjust, AKA it's time to lower interest rates. Everything to this point has been speculation. Oh, what's Jerome Powell going to do? You just heard him. It is game time. Lower interest rates. Let's go for the record, lower interest rates means more refinances.
We will do everything we can to support a strong labor market as we make further progress toward price stability with an appropriate dialing back of policy restraint.
With an appropriate dialing back of policy restraint. So his job is basically to lower interest rates without pushing us into a recession. So that's what he's saying. So that's what he's trying to back up is like, look, I'm going to lower interest rates, but I'm not going to do it too fast where the economy crashes. So he has to have a little balancing act of lowering interest rates while keeping a strong economy, strong labor force. But who knows, if he pushes the levers too far, we couldn't be in a recession. By the way, a recession means even more aggressive rolling back of interest rates. So if you're notary public loan signing agent, this is some amazing news.
The worst of the pandemic related economic distortions are fading.
What he's saying is because of that action, the worst of that action of pumping money, the economy seems to be fading, which he's saying inflation's under control.
Inflation has declined significantly. The labor market is no longer overheated.
The labor market is no longer overheated. That's important. So you hear me give you job reports. So what that means is because there was so much money in the economy, that meant that all these businesses were hiring people to supply the demand. But as demand is cooling, that means less people need to have jobs. So that is a really important thing to understand here is as the cooling job market happens, that actually means inflation is getting under control because there's less people spending money. How do we know that if there's less people spending money, there's less need to hire people?
Inside the economy, supply constraints have normalized and the balance of risks to our two mandates has changed.
So because everything has stabilized, his mandate has changes. His mandate was raising interest rates to get the economy under control. That was the mandate. But he just said now our mandate is different. His mandate now is to keep the economy on this very balancing act of humming along, lowering interest rates. And so you. He's seen cracks in the labor market, meaning there's higher unemployment. And so now the mandates change, which means no more interest rates increasing. If you're a notary public loan signing agent, this video is incredible. So let me break this down one more time. Over the past two years, as they started raising interest rates after Covid, there has literally been roughly 6 to 8 million people in America who bought a new home where interest rates were above 6, 7 and even touched 8%. This is a fact. So if they can keep on dialing the interest rates back down, if the interest rates get to 5, 5 and a half, 5 and 3 quarters, my prediction is there will be a shortage of notaries who are able to service the millions of homeowners the past two years who are going to race to refinance. It's simple economics. People bought homes at higher interest rates. They were waiting for this day to happen. And that is an escalation process of all interest rates going down. And so if you're a notary public loan signing agent, there has not been a better time to be a notary public loan signing agent than right now. The Fed has done its job by raising industry, it's cooled inflation, it's made unemployment go up. Now they're saying, look, inflation's at the steady 2% that it's supposed to be at. So now they're going to start adjusting the policy. His mandate is different. If you know what to hear in that video, all you should be is excited. I am so excited. For you for taking the time to watch this video. If you want more market updates just like this as we continue to hear the interest rates going down and what's going in the market, comment the Word News below.
