The Federal Reserve on Wednesdayannouncedits third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for borrowers, the central bank also projected that it will loosen rates less next year than previously expected...
How the Federal Reserve's first rate cut since 2020 could impact your credit card paymentsBy Aimee Picchi Edited By Alain Sherter Updated on: September 18, 2024 / 5:22 PM EDT / CBS News Thanks to the double-whammy of inflation and higher interest rates, Americans have amassed a $1.1...
TheFederal Reserveon Wednesday announced a long-awaited interest rate cut, lowering the benchmark rate by 50 basis points from what was the highest level in 23 years as the central bank eased borrowing costs following progress in the fight against inflation. The Fed's first interest rate cut s...
The Federal Reserve's decision to cut interest rate comes after months of shaky labor market data in the U.S. The unemployment rate stood at4.2% in August 2024 with 7.1 million Americans without work, little changed from recent months. But the jobs picture had darkened notably from a year ...
The Fed's target rate is the basis for bank-to-bank lending. The rate that banks charge their most creditworthy corporate customers is known as theprime lending rate. It's linked directly to the Federal Reserve's target rate and is often referred to as simply "the prime." ...
The Federal Reserve cut its key interest rate by a quarter-point in response to a steady decline in once-high inflation that angered Americans and helped drive Trump’s election victory.
WASHINGTON (AP) — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years ofhigh ratesthat helped tame inflation but also made borrowing painfully expensive for American consumers. ...
Federal Reserve Rate Cut Makes Borrowing More Affordable.(Knight Ridder/Tribune Business News)Hazard, Carol
Federal Reserve WASHINGTON (AP) — Having all but tamed inflation, the Federal Reserve is poised to do something Wednesday it hasn’t done in more than four years: Cut its benchmark interest rate, a step that should lead to lower borrowing costs for consumers and businesses ...
TheFederal Reserveannounced Wednesday that it will leaveinterest ratesunchanged. However, recent signs ofeconomic growthandcooling inflationare paving the way for a widely anticipated September rate cut, which is welcome news for Americans struggling to keep up withsky-high interest charges. ...