Federal Reserve Bank of Cleveland President Loretta Mester said on Wednesday that policymakers need to raise interest rates into restrictive territory to cool inflation.
Although inflation has cooled a bit since mid-2022, living costs are still considerably higher today than they were at this time two years ago. And so until inflation levels come down quite a bit, the Fed will most likely continue to raise interest rates. However, unless inflat...
WASHINGTON (AP) — With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday. “Inflation pressures continue to run high, and the process...
Broadly speaking, the Fed also can (and does) use this benchmark rate to keep our economy humming at an ideal pace, changing the rate to correct course should things veer too hard in one direction or the other. It can raise rates (much like it did in 2022 and 2023) to cool an over...
Treasury Secretary Janet Yellen pointed to rising interest rates, which have been increased by the Federal Reserve to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed. Sheila Bair,...
Treasury Secretary Janet Yellen pointed to rising interest rates, which have been increased by the Federal Reserve to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed. ...
Treasury Secretary Janet Yellen pointed to rising interest rates, which have been increased by the Federal Reserve to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed. ...
The Federal Reserve is expected to raise interest rates by 0.75 percentage point – its second hike of that magnitude since June and a first in the "modern era" of Fed policy. The anticipated rate hike comes at a pivotal time as policymakers attempt to slow inflation and provide...
The U.S. homeownership rate has fallen from 66% in 2023 to 65.6% in the first quarter of 2024. The two biggest hurdles to increasing the homeownership rates are a lack of affordable properties and buyers' inability to save for a down payment, according toresearchfrom the National Association...
“We need the Fed to start cutting, because like the rent, interest rates are too damn high,” said Rep. Ayanna Pressley, a Democrat from Massachusetts. On a separate topic, Powell replied to a question by saying the Fed will probably alter a central bank...