The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything from mortgages to credit cards. The Fed...
In: Interest Rates Federal Reserve Aimee Picchi Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Twitter ...
Fed officials have wrapped up their two-day meeting and as expected have issued a cautious statement on the U.S. economy, interest rates and monetary policy. From the Fed: Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding...
Still, those estimates signal interest rates could remain historically high for the time being, decisions that could greatly impact consumers’ finances. High rates are what boostyields on savings accountsand keep borrowing costs on almost any type of product expensive, from a credit card to a hom...
The Federal Reserve is set to make its latest announcement on interest rates Wednesday, with new inflation data potentially influencing the decision. Wednesday's Consumer Price Index Report showed core inflation, which factors out food and fuel prices, rose by 0.2 % in May -- a slightly slower...
More In Federal Reserve Economist who nailed half-point call sees another big Fed rate cut in November Trade Alerts We’re trimming a bank stock on a post-Fed pop and still considering swapping it Analysis Here’s what Morgan Stanley, Wells Fargo stand to gain from lower interest rates ...
Federal Reserve Hikes Interest RatesWASHINGTON _ The Federal Reserve raised borrowing costs for millions of Americans on Tuesday in an attempt to slow the economy enough to prevent inflation from accelerating next year.Skidmore, Dave
The Federal Reserve cut its influential fed funds rate 50 basis points Wednesday to a range of 4.75% to 5%. The first rate cut since March 2020 marked a shift in strategy from the Fed, which had held its key interest rate at a two-decade high for 14 months before Wednesday. Fed offici...
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The Federal Reserve controls monetary policy in the U.S., aiming to ensure a stable financial system. Browse Investopedia’s expert-written library to learn more.