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 requires banks to keep a certain percentage of their customer's money on reserve, where ...
The prime rate, as reported by The Wall Street Journal's bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit card rates. It is in turn based on the federal funds rate, which is set by the Federal Reserve. The COFI (11th District cost...
The Federal Reserve’s third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.
Turmoil in the banking system after two major banks collapsed led many Federal Reserve officials to envision fewer rate increases this year out of concern that banks will reduce their lending and weaken the economy. The heightened uncertainty surrounding
Federal Reserve's increasing interest rate hikes put Main Street economy 'dangerously close' to edge of lending cliff Elizabeth Frantz | Reuters TheFederal Reserve's decision to raise interest ratesby three-quarters of a percentage point, or 75 basis points, for the third-consecutive ti...
WASHINGTON, May 7 (Xinhua) -- Randal Quarles, vice chair for supervision of the U.S. Federal Reserve (Fed), downplayed the leveraged loan risks on Tuesday after the Fed warned of the record high debt owed by U.S. businesses. During an open event at Yale University, Quarles addressed so...
The Federal Reserve may need to increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Federal Reserve Chair Jerome Powell said Tuesday in prepared testimony...
consumers got an immediate reprieve on borrowing costs from banks after the Federal Reserve cut interest rates on Wednesday for the first time in more than four years. Lenders tightened lending standards last year as the commercial real estate market deteriorated and investors became broadly conce...
The Federal Reserve has now cut its key overnight lending rate three times in a row this year. And the effect has been a mixed bag for consumers. All in, the fed funds rate, as it’s called, is now down a full percentage point from what had been its highest level in more than ...
People carrying variable-rate debt like credit cards and those seeking a loan won’t be happy given that the Federal Reserve’s benchmark lending rate rate, which directly and indirectly affects consumers’ borrowing costs, remains at a 23-year high. ...