While it's true savings and CD rates are going to keep marching lower as a result of today's Fed move—and will likely continue downward if the central bank implements additional rate cuts—it's also true that it always makes sense to earn whatever a competitive rate is at the curren...
Updated on: May 1, 2024 / 3:45 PM EDT / CBS News The Federal Reserve on Wednesday afternoon said it is holding its benchmark rate steady after an uptick in inflation, meaning that consumers aren't likely to see any near-term relief from high borrowing costs. At year start, about 9...
" he added. "The economic outlook is uncertain, and we remain highly attentive to inflation risks. We are prepared to maintain the current target range for the federal funds rate for longer if appropriate."
The central banksaid in the first paragraph of its statementthat it has seen little further movement toward an annual inflation rate of 2%, which is the preferred level. For McBride, pointing to this so early in the release is telling. "Calling that out in the first paragraph is tantamount...
While that number is up from last week, mortgage rates on a typical loan have hovered between 6.60% and 7% since the beginning of December. The average mortgage rate is still down from the peaks hit in the fall but is still at a more than two-decade high. ...
FRANKFURT, Aug. 25 (Xinhua) -- The euro-to-dollar exchange rate has been under pressure over the past weeks, weighed down by a strong dollar amid mixed Fed rate cut prospects and worries over a protracted slowdown and political uncertainties in the euro zone. ...
WASHINGTON, June 28 (Xinhua) -- The U.S. Federal Reserve is scrambling to tamp down inflation via the most powerful interest rate hikes in decades, which are likely to increase unemployment and the cost of borrowing, and both could disproportionately harm the working class and lower-income Am...
August Inflation Rate Reduces Likely 2025 COLA—But Still Above Projected Annual Pay Raise ByRalph R. SmithSep 11, 2024 9:30 AMCategoriesFederal Employee RetirementLeave a comment The 2nd month of inflation data determining the 2025 COLA has been released. The 2025 COLA will be less than in ...
Stocks pop following news that Fed sees 3 rate cuts in 2024 The major averages jumped upon the Federal Reserve's announcement that three rate cuts are ahead in the new year. The Dow Jones Industrial Average leapt more than 170 points or nearly 0.5% on Wednesday afternoon. The S&P 500 adde...
You can expect your credit card's interest rate to decrease by roughly 1% as a result of the latest Fed cuts, which is even more than the March 4 rate cut of 0.50%. This means that if your interest rate is 15.24%, it may drop to 14.24%, for example. Card issuers often implement ...