Federal Reserve Signals No Rate Cuts as Inflation Stays High, Redfin to Lay Off 450 After $100M Zillow Deal, Windermere Appoints Brooks Glenn as DEI Director

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Federal Reserve Signals No Rate Cuts as Inflation Stays High

Hopes for Federal Reserve interest rate cuts have diminished, as a recent inflation report signals the Fed isn’t quite ready to ease policy. Fed Chair Jerome Powell, speaking before Congress today, said while progress has been made on inflation, “we’re not quite there yet,” and the central bank plans to maintain restrictive policies for now.

The latest consumer price index report showed inflation rising by 0.5% last month, pushing the annual rate to 3%. Core inflation, which excludes food and energy, remained stubbornly high at 3.3%. As a result, market expectations have shifted, with a minimal chance of any rate cuts until at least September, and only a slight possibility of additional reductions through 2025.

This heightened inflation, combined with potential tariffs from the White House, complicates the Fed’s efforts to reach its 2% target. More data on inflation is expected later this month, but for now, the path to rate cuts seems uncertain.

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Redfin to Lay Off 450 After $100M Zillow Deal

Redfin is set to lay off 450 employees as part of a restructuring of its rentals segment, following a major new partnership with Zillow Group. The layoffs, expected to occur between February and July 2025, are part of Redfin’s efforts to eliminate certain roles supporting its rentals division. The restructuring is slated to be completed by the end of September.

The move comes just days after Redfin and Zillow announced a new agreement, making Zillow the exclusive provider of multifamily rental listings on Redfin and its affiliated sites. Zillow’s rental business saw 25% annual growth in the fourth quarter of 2024, and the $100 million deal is expected to benefit both companies.

While the restructuring will cost Redfin an estimated $18 to $21 million, the agreement allows the company to focus on other areas, including lending and title services. Redfin’s stock surged 11% on February 12, signaling investor optimism despite the layoffs.

This marks Redfin’s third round of layoffs in seven months, following cuts in January and August. More details on the company’s financial outlook will be revealed in its fourth-quarter earnings report on February 27.

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Windermere Appoints Brooks Glenn as DEI Director

Windermere Real Estate has named Brooks Glenn as its new Director of Inclusion and Community Engagement, continuing the company’s dedication to diversity, equity, and inclusion (DEI). Glenn, a 20-year veteran of the real estate industry, will take the lead on advancing Windermere’s DEI efforts after Samantha Enos stepped down from the role to return to real estate sales.

Windermere, a family-owned business founded nearly 50 years ago by John Jacobi. Today, Windermere is led by the second generation of the Jacobi family. President OB Jacobi emphasized that despite national trends of companies scaling back their DEI commitments, Windermere remains firm in its mission to foster equity in both the real estate industry and homeownership.

Glenn, who is also involved with the Black Home Initiative and the Western Washington Realtist, spoke about the importance of confronting the historical harms caused by discriminatory practices like redlining and restrictive covenants.

As DEI Director, Glenn will drive Windermere’s strategy, focusing on outreach, collaboration, and supporting diversity in communities. “This work is far from over,” Glenn said, committing to lead change that can inspire others and transform communities.

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