Prime rate, federal funds rate, COFIUpdated: 2025-04-29 This WeekMonth AgoYear Ago Fed Funds Rate (Current target rate 4.25-4.50)4.54.55.5 What it means:The interest rate at which banks and other depository institutions lend money to each other, usually on an overnight basis. The law requ...
Prime rate, federal funds rate, COFIUpdated: 2025-04-29 This WeekMonth AgoYear Ago Fed Funds Rate (Current target rate 4.25-4.50)4.54.55.5 What it means:The interest rate at which banks and other depository institutions lend money to each other, usually on an overnight basis. The law requ...
The Federal Reserve Chair Jerome Powell confirmed slower rate cuts on the horizon. The Fed has been or closer to the timing of slower cuts, Powell told reporters at a news conference after the meeting.“Today was a closer call, but we decided it was the right call,” Powell said. He la...
central bank, the Federal Reserve tries to keep the economy steady using an important rate it can influence: the federal funds rate. This is roughly the cost of borrowing cash overnight between banks. Typically the Fed lowers its rate to help stimulate the economy and raises it to help curb...
On Wednesday, the Fed also released its economic projections for the coming years, which shows that its members are pegging the median 2024 federal funds rate at 4.4%. That would represent a roughly 1 percentage point reduction from its prior level, financial data firm FactSet noted. Meanwhile...
The Federal Reserve kept the fed funds target rate at 5.25% to 5.5%. Chair Jerome Powell said it was unlikely the central bank's next move would be a hike.
Traders work on the floor at the New York Stock Exchange today. Seth Wenig/AP US stocks were mixed Wednesday as investors prepare for the Federal Reserve’s first rate decision of the year. The Dow opened higher and gained around 75 points, 0.17%, in morning trading. The S&P 500 opene...
The most notable addition to the Federal Reserve’s policy statement was essentially an outright denial that rate cuts are around the corner. “In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, ...
Now that inflation has cooled, the Fed has pivoted to lowering the fed funds rate. In its official statement today, the Fed indicated its gradual 0.25-point reduction comes in light of unemployment and inflation risks being "roughly in balance," but with an inflation rate that's still sl...
Wednesday’s inflation report, which revealed consumer prices werepractically unchanged in May,raised hopesthat theFederal Reservewill begin cutting its benchmark federal funds rate later this year. That would reduce the rates on all kinds of consumer loans, including mortgages, which have declined so...