TheFederal Reservecut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce ratesmore slowly next yearthan it previously envisioned, largely because of still-elevated inflation. The Fed’s 19 policymakers projected that they ...
A top question on the minds of investors and consumers alike is when might the Federal Reserve make its first interest rate cut after two years of rapid hikes, which have sent mortgage and credit card rates soaring. But after Tuesday'shotter-than-forecast inflation report, economists have...
Officials voted at the December meetingto hold interest rates steady at a range of 5.25% to 5.5%, the highest level since 2001. But policymakers also opened the door to multiple rate cuts in 2024 amid signs the economy is beginning to slow in the face of tighter monetary policy. Updated q...
BlackRock’s Rick Riedersaid Thursday he believes the Federal Reserve is nearing the end of its current cycle of interest rate hikes aimed at tamping down inflation and may look to cut rates next year. Rieder, BlackRock’s chief investment officer for global fixed income responsible for the m...
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. ...
Updated on: September 19, 2024 / 6:22 AM MDT / CBS News 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 prove decisive to the finances of millions of Americans. ...
WASHINGTON —Chair Jerome H. Powell reinforced his belief Wednesday that the Federal Reserve will cut its key interest rate this year but said it first wants to see more evidence thatinflationis falling sustainably back to the Fed’s 2% target. ...
The last time the federal funds rate was cut was at the start of the pandemic, when the Fed slashed it to zero. Below, CNBC Select shares some financial steps to consider before interest rates decline. Click here to view interactive content Open a high-yield savings account When the Fed ...
The first rate cut will be a huge deal. Just about every corner of the economy was affected as the Fed raised benchmark interest rates from around zero in early 2022 to 5.25% to 5.50%, the level it's been since July 2023. Inflation came down — which was the main reason the Fed ra...
June 12, 2024 02:23 PM EDT Shares of companies heavily exposed to U.S. residential real estate jumped on Wednesday after a soft inflation report raised hopes for a Fed interest rate cut that could help to rekindle a stagnant housing market. ...