The Federal Reserve said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably.
According to the CME FedWatch tool, the probability of a 50-basis-point cut rose from 25% a month ago to 64% the day before the Fed's decision. Wednesday's rate cut decision is expected to be the first in a series of moves tolower interest rates. Prior to the Fed's announcement, ...
$320,000 at the mid-December rate of 6.91 percent translates to a monthly principal-and-interest payment of $2,110, according toBankrate’s mortgage calculator. Borrowing the same amount at 8 percent translates to a monthly payment of $2,348. That’s a difference of $238 per month. ...
cutting rates a quarter point this month is more about a long-term trend," Christopher Clarke, a professor of economics at Washington State University, told CBS News. "People should think about this as a half a point a month ago, a quarter point this month, a quarter point next m...
This WeekMonth AgoYear Ago Federal Discount Rate555.5 What it means:The interest rate at which an eligible financial institution may borrow funds directly from a Federal Reserve bank. Banks whose reserves dip below the reserve requirement set by the Federal Reserve's board of governors use that ...
Interest rates will almost certainly fall further in 2025, though it isn't clear how quickly or by how much. The Fed considers various economic indicators, including inflation and unemployment figures, before making any rate decisions...
While the fed funds rate doesn’t directly impact consumers, it eventually trickles down to the public by influencing interest rates on consumer products such as credit cards, mortgages, home equity loans, and student loans. Yields on savings products, such as high-yield savings accounts and cer...
Eurodollars come in various durations, so there were actually multiple LIBOR benchmark rates—one-month LIBOR, three-month LIBOR, and so on. Because eurodollars are a substitute for federal funds, LIBOR tended to track the Fed’s key interest rate rather closely; however, unlik...
(ICE) group asks several large bankshow much it would cost them to borrowfrom another lending institution every day. The filtered average of the responses represents LIBOR. Eurodollars come in various durations, so there are actually multiple benchmark rates—one-month LIBOR, three-month LIBOR,...