The Federal Reserve on Wednesday afternoon said it is holding its benchmark rate steady after an uptick in inflation, meaning that consumers aren't likely to see any near-term relief from high borrowing costs. At year start, about 9 in 10 economists had forecast that the Fed would cut ...
5 reasons the Fed needs to raise rates todayMatt Busigin
When looking at the historical prime rate, you must first look to thehistorical fed funds rate. There has not been a steady funds rate over history. It peaked in December of 1980 (when inflation was in the double digits) at 19-20% – and the prime rate followed suit, reaching a record...
The best CD rates across terms held steady today. CD rates have generally been declining since theFederal Reservecut its benchmark interest rate last month—and another rate cut by the Fed today won't help matters. But you can still grab the5.50% leading offerfor an ...
to consumers and businesses, who have been paying more for mortgages, auto loans,credit card debtandother borrowingdue to the Fed's flurry of hikes. But rate-weary Americans will likely have to wait a few more months to see any relief, given the Fed today said it isholding rates steady...
However, the top-performing sector since July 11 has been utilities, which often rise in the face of interest-rate cuts … but still underperform the broader market. "We forget that the Fed usually saves the day. The Fed has three cut cycles in a row with a big asterisk, but if the ...
thebest savings account ratecomes down from today's 5.50% to maybe 4.50% by the end of the year—or even 3.50% by the end of 2025—these are still historically high returns. You can see this easily in the graph below, which shows that back in 2022, before the F...
The 2022 Fed rate increases kicked off a prolonged period of rising savings rates, and today some of the best savings accounts have annual percentage yields, or APYs, above 5%. Once the Fed reduces rates, we will likely see a dip in the highest savings rates, so expect those to top out...
This is why economists commonly say that Fed rate cuts are "priced in" to current mortgage rates.READ: Today’s FHA Mortgage RatesInflation Although unemployment has been steadily ticking higher and inflation is now much closer to the Fed's target of 2% annual price growth, recent...
The federal funds rate is the Fed’s main benchmark interest rate that influences how much consumers pay to borrow and how much they’re paid to save, rippling through the U.S. financial system to influence yields oncertificates of deposit (CDs)andsavings account, as well as rates oncredit...