The Federal Reserve just cut interest rates by 50 basis points—here's how exactly this benefits you.Meredith Dietz September 19, 2024 Credit: christianthiel.net / Shutterstock The Federal Reserve announced a 50 basis point cut to its benchmark interest rate on Wednesday. This marks the ...
Traders currently foresee almost a 90% chance of a cut in September. Photo: Federal Reserve Board San Francisco Federal Reserve Bank President Mary Daly said Thursday that she now supports cutting interest rates. “With the information we have received today, which includes data on employment, ...
000 jobs were created last month—implying that the Fed might not need to cut rates as drastically to keep the economy healthy. The odds of a 50-point cut in November dropped to zero. The odds of a 25-point cut shot up to 99.1%, and...
This shift toward caution was reflected in the FOMC's statement, which introduced new language about the “extent and timing” of future adjustments. Powell indicated that “extent” refers to how much room the Fed has left to cut rates without overstimulating the economy, while “timing” sugg...
What you need to know today Fed cuts rates by 25 basis points On Thursday, the U.S. Federal Reservecut interest rates by 25 basis points, or a quarter percentage point, bringing the target range to 4.50%-4.75%. At the Fed's news conference, chair Jerome Powell told reporters he wou...
The cut may be the catalyst that sparks a broader market re-pricing. Regional banks have been under pressure for much of the year, and while lower rates might provide some relief, they also signal that the Fed is concerned about bank stability. If the financial sector takes another h...
Speaking on CNBC after the release of his essay, Kashkari said the half-percentage-point easing was a good first step and that even with that move the overall level of interest rates is still economically restrictive. He also noted that while he was supportive of the larger-sized rat...
Federal Reserve Bank of St. Louis President Alberto Musalem said on Wednesday he sees a greater risk today of easing monetary policy too much, too soon than moving interest rates lower too slowly and not enough.
continued to ease since we cut interest rates in August. The economy has been evolving broadly as we expected. If that continues, we should be able to reduce rates gradually over time. But it’s vital that inflation stays low, so we need to be careful not to cut too fast or...
with a bigger-than-usual cut to interest rates. U.S. futures were higher after a lackluster response on Wall Street to the Fed's move the day before. The future for the S&P 500 jumped 1.3% and that for the Dow Jones Industrial Average was up 0.8%. Germany's...