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Aug 23 2024
News
‘The time has come’ to begin reducing interest rates
JACKSON, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it
Todays ChronicAug 23 2024
News
Fed's Powell: 'Time Has Come' to Pivot on Interest Rates
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September. “The
Newsmax (News)Aug 01 2024
News
Business Recovery in a High Interest Rate Environment
In this article we look at how a business can thrive and expand in the current high interest rate environment. Interest rates in the major Western economies are at levels not seen in the last decade putting a hefty financial burden on many businesses. Manufacturing and technology are key affected sectors. Achieving cost and efficiency savings is therefore today more vital than ever. It is
Newsmax (News)Aug 12 2024
News
Vance Backs Trump's Support for a 'Say' on Interest Rates
J.D. Vance has endorsed former President Donald Trump's call for the White House to have “a say” over the Federal Reserve's interest rate policies — a view that runs counter to decades of economicresearch suggesting that politically independent central banks are essential to controlling inflation and maintaining confidence in the global financial system. “President Trump is saying, I think,
Newsmax (News)Aug 29 2024
News
Mortgage Rates Go Down Over the Last Week: Mortgage Interest Rates Today for Aug. 29, 2024
The average interest rate for a standard 30-year fixed mortgage is 6.43% today, down -0.10% over the last week. The average rate for a 15-year fixed mortgage is 5.83%, which is a decrease of -0.05% compared to a week ago. For a closer look at mortgage predictions this week, see here. With inflation at its lowest level since spring 2021 and a weakening labor market, the Federal Reserve is set
CNETAug 18 2024
News
Goolsbee says lowering interest rates next fall is not a ‘certainty’
Austan Goolsbee, the president and CEO of the Federal Reserve Bank of Chicago, said lowering interest rates in the fall is not a “certainty.” “I don’t think it’s a certainty, and I don’t like, as you know, tying our hands ahead of time when we got a lot of data to come in and everyone on the committee is going to get to speak their piece, and it’s a committee decision,” Goolsbee said on CBS’s
The HillAug 16 2024
News
Key Rates Move Higher for Homebuyers: Mortgage Interest Rates Today for Aug. 16, 2024
The average interest rate for a standard 30-year fixed mortgage is 6.56% today, up 0.06% since one week ago. The average rate for a 15-year fixed mortgage is 5.90%, which is an increase of 0.04% since last week. For a look at mortgage rate movement, see the chart below. With inflation at its lowest level since spring 2021 and the labor market cooling, the Federal Reserve is set to make its
CNETSep 01 2024
News
Fed interest rate cuts won't help your credit card debt
Wall Street and Main Street are ready to usher in the fall season with the first interest rate cut since March of 2020, the start of the COVID-19 pandemic, and with this comes the hope of lower borrowing costs. While it may lower rates for mortgages, auto and personal loans, those carrying credit card debt are likely to be out of luck. "That's where the real advice is. Don't expect the Fed to
Fox BusinessAug 06 2024
News
An interest rate cut won’t fix the housing crisis
We’re in some weird times. On Friday, it was a weaker-than-expected jobs report, and on Monday, there was a global stock market meltdown. The one bright spot is that weekly mortgage rates fell to their lowest level since February, so that’s good news for potential homebuyers or those who have been waiting to refinance or sell. They could even fall further because an interest rate cut from the
Fortune