the Swiss franc and gold since last weekend. The Japanese stock market plunged for days, with the yen soaring and Japanese long-term interest rates decreasing significantly.
According to the minutes of the Fed's July meeting that was released on Wednesday, Fed officials were divided over whether to cut interest rates. STIMULUS PACKAGE EXPECTED Within the euro zone, incoming economic data over the past months have mostly been on the soft side, and the ECB has op...
The central bank hiked rates earlier this month by 75 basis points, which was the largest increase since 1994, amid skyrocketing inflation, especially soaring food and gasoline prices. In an op-ed in The Guardian, Robert Reich, a former U.S. labor secretary, argued that higher interest rates...
The latest move came after the Fed raised its benchmark interest rate by 75 basis points at its June meeting, marking the sharpest rate hike since 1994. The Fed previously raised rates by 25 basis points in March and then by 50 basis points in May. Headline consumer price index (CPI) ha...
Ina substantially changed statementthat concluded the central bank's two-day meeting this week, the Federal Open Market Committee removed language that had indicated a willingness to keep raising interest rates until inflation had been brought under control and was on its way toward the Fed's 2% ...
Good News, and Bad, on Loans; Higher Fed Rates Expected to Have Mixed Effect on Consumer CreditJerry Knight
Kashkari, who said he had previously predicted two rate cuts this year, added, "If we continue to see strong job growth, strong consumer spending and strong GDP growth, then that raises the question in my mind, "Well, whywouldwe cut rates?' Maybe the dynamics we have right now are sust...
WASHINGTON -- The US Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent, as inflation continues to be cooling, hinting that a rate cut might come as soon as September. "Inflation has eased over the past year but remains somewhat elev...
However, Tim Duy, a veteran Fed watcher and economics professor at the University of Oregon, believed that the central bank could pause rate hikes for some time after raising rates this week. "If the economy turns slower more quickly than anticipated, this will be the last hike for some ti...
Federal Reserve on Wednesday left its benchmark interest rates unchanged as the central bank waited on more data to assess the U.S. economic outlook. "The Committee views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual ...