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LendingTree Fed Rate Forecast: Chief Economist Predicts a Pause at May 9 Meeting

Thursday, May 3, 2007 - 04:31

CHARLOTTE, N.C., May 3, 2007 – The next Federal Open Market Committee (FOMC) meeting will take place on Wednesday, May 9. LendingTree Chief Economist Jim Svinth forecasts the seventh straight pause in interest rate hikes.

“The economy is soft with housing being the biggest drag,” said Mr. Svinth. “Still, consumers continue to spend and inflation remains outside the Fed’s comfort zone. This combination means the FOMC will likely keep its Fed Funds target at 5.25% during the May 9 meeting.”

The Federal Reserve paused at the last six meetings – August 8, September 20, October 24 – 25, December 12, January 30 – 31, and March 20 – 21.

“The housing situation appears to be somewhat stabilizing, however, it’s still too soon to tell what the future may hold. But if the situation gets worse, and unemployment starts to tick up, this will give the Fed room to ease.”

Note to Editors: Jim Svinth is available for print, radio and broadcast interviews – live or taped.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and LendingTree, LLC is an operating company of IAC (NASDAQ: IACI).

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