Though thetop high-yield savings account rateis still near a 20-year peak, today's Fed move will push most banks to lower their rates. Since CDs provide a future rate guarantee, thebest CD rateshave already been drifting lower for a year. Today's rate reduction will fuel that decline...
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Federal Reserve Chair Jerome Powell said on Wednesday afternoon that the FOMC has not yet begun to consider cutting rates. "We're not really at that stage, there was no proposal to cut rates. … We weren't actively considering moving the federal funds rate down," he said. — Lisa Kailai...
That's because consumers may delay their borrowing until a later date as they wait for interest rates to eventually come down. This effect, Kelly said, is "very bad for the economy." Ultimately, the Fed's pivot is good news today for both the stock and bond market, the strategist said....
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. ...
WASHINGTON, Dec. 19 (Xinhua) -- The U.S. Federal Reserve cut interest rates a quarter point on Wednesday in a widely-anticipated move. However, the central bank indicated there would be fewer cuts next year, as it braces for uncertainty stemming from the incoming Donald Trump administration'...
Fed expected to raise interest rates today; Move helps savers and hurts borrowers, but much of the effect may already have occurred.(NEWS)Meyers, Mike
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. ...
WASHINGTON, Dec. 19 (Xinhua) -- The U.S. Federal Reserve on Wednesday raised short-term interest rates by a quarter of a percentage point, but signaled a slower pace of rate hikes next year as the U.S. economy is expected to cool down. ...
Central bank policymakers held steady on interest rates at the conclusion of their meeting, a move that was widely expected by the markets. The fed funds target rate remains at its 5.25% to 5.5% range. The Federal Reserve called out a "lack of further progress" in getting inflation down to...