The Federal Reserve on Thursday made itssecond rate cut of this year, with the decision coming less than two months after the central bank's surprise jumbo cut in September. The Fed shaved borrowing costs by 0.25 percentage points, or half the size of its September reduction, according to it...
With inflation falling, the Federal Reserve is cutting its benchmark rate by a quarter of a percentage point, but it's not clear where interest rates go from here. CBS News New York's Jennifer Bisram reports.
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 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.
The Fed’s decision drew the first dissent from a member of its governing board since 2005. Michelle Bowman, a board member who has expressed concern in the past that inflation had not been fully defeated, said she would have preferred a quarter-point rate cut. ...
The presidential contest might still be unresolved when the Fed ends its two-day meeting Thursday afternoon, yet that uncertainty would have no effect on its decision to further reduce its benchmark rate. The Fed’s future actions, though, will become more unsettled once a new president...
It will reveal at midday on Thursday not just its latest interest rate decision but also the quarterly monetary policy report which will contain the Bank staff's latest projections on inflation, economic growth and employment. The Federal Reserve's rate decision and accompanying statement did little...
The Federal Reserve today made itsfinal interest rate decision of 2024, capping a year during which the central bank provided some financial relief to inflation-weary borrowers in September by ushering inits first rate reductionin four years.On Dec. 18, the Federal Reserve made itsthird consecutiv...
It refers to adecision by the FOMCto reduce thefederal fund's target ratewhen the Fed "cuts rates." The target rate is a guideline for the actual rate that banks charge each other on overnight reserve loans. Rates on interbank loans are negotiated by the individual banks and they usually...
The Federal Reserve cut its benchmark interest rate Thursday by 0.25 percentage points to a range of 4.5% to 4.75%, its lowest since February 2023. The Fed is cutting its influential fed funds rate to push down borrowing costs on all kinds of loans and boost the economy to prevent unemploy...