ARTnews Features Philip Hoffman on the Fed’s Recent Interest Rate Cut
In a recent ARTnews article, “It’s Too Early to Know if Fed’s Interest Rate Cut Will Revive a Flagging Art Market, Experts Say” Philip Hoffman, founder of The Fine Art Group, weighed in on the Federal Reserve’s half-point interest rate reduction. While Hoffman acknowledges the move as positive, he suggests that a further one to two percent drop is needed before significant corrections in the art market occur. He describes the upcoming auction season as a “chicken and egg” situation, with cautious buyers and sellers waiting for better economic conditions and clarity on future tax policies.
Read the full article on ARTnews here.
