The Federal Reserve gave investors exactly what they said They wanted to cut interest rates by a whopping 50 basis points on Wednesday – but that was still not enough. After a brief rise after the initial announcement, stock prices went through a period of high volatility before all three major US market indices closed […]
NEW YORK (AP) — The Federal Reserve has cut its benchmark interest rate from a 23-year high, affecting consumer and business debt, savings, auto loans, mortgages and other forms of credit. On Wednesday, the Fed announced that it had cut its benchmark interest rate by an unusually large half a percentage point to between 4.75 […]
So the Federal Reserve just cut its benchmark interest rate by 50 basis points. But what does that mean for us poor souls stuck in a real estate world that feels like purgatory? It’s pretty complicated, but what you need to know in 10 seconds or less is that while mortgage rates probably won’t drop […]
WASHINGTON – The U.S. Federal Reserve on Wednesday decided on its first interest rate cut since the beginning of the Covid pandemic, lowering the key interest rate by half a percentage point to prevent a slowdown in the labor market. In view of the declining employment situation and falling inflation, the Federal Open Market Committee […]
Federal Reserve Chairman Jerome Powell answers a question from a reporter during a press conference following a meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building in Washington, DC, on July 31, 2024. Andrew Harnik | Despite all the hype surrounding them, Federal Reserve meetings are usually […]
It’s been a long and bumpy road to the Federal Reserve’s first interest rate cut in more than four years – a moment that could be pivotal for the finances of millions of Americans. On Wednesday, the Fed is expected to cut its benchmark interest rate, currently at its highest level in 23 years, after […]
Important points There is an unusual atmosphere of uncertainty surrounding the meeting of the US Federal Reserve on Wednesday. Why? No one is sure whether the Fed will cut its benchmark interest rate by the usual quarter of a percentage point or even by an even more aggressive half a percentage point. In addition, the […]
WASHINGTON (AP) — The Biden administration is cracking down on cheap products sold from China, stepping up efforts to reduce U.S. dependence on Beijing and bolster domestic manufacturing. But that could mean higher prices for U.S. consumers who flock to popular shopping sites like Temu and Shein. The rule proposed by President Joe Biden would […]
Target says it plans to hire around 100,000 employees for the holiday shopping season. The retailer’s plans, announced on Monday (September 16), are in line with last year’s hiring numbers and come at a time when analysts expect a slightly slower pace of shopping in 2024. The positions are for Target’s stores and supply chains, […]
Social Security COLA rises with increasing inflation pressure A look at Social Security’s adjustments for inflation, including the increase in the cost-of-living adjustment (COLA) to 3% for 2025 and the increase in the Consumer Price Index (CPI). A cooling of inflation is likely to lead to a modest adjustment in the cost of living for […]
