AllSides Balanced Search reveals information and ideas from all sides of the political spectrum so you can get the full picture.
Aug 08 2023
News
Student loan update: Proposed bill would drop loan interest rates to 0%
A bill introduced in U.S. Congress this month is targeting interest rates that student loan borrowers have to pay. The bill’s co-sponsors, who are Democrats in the U.S. House and Senate, introduced the Student Loan Interest Elimination Act following a Supreme Court ruling that struck down the Biden administration’s student loan forgiveness plan. The bill from Sen. Peter Welch, D-Vermont, and
nj.com
Jul 27 2023
News
Inflation battle: Federal Reserve hikes interest rate for 11th time
The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months as part of its ongoing drive to curb inflation. But it provided little guidance about when – or whether – it might hike rates again. Wednesday’s move raised the Fed’s benchmark short-term rate from roughly 5.1% to 5.3% – its highest level since 2001. Coming on top of its previous hikes, the Fed’s latest
Christian Science Monitor
Jun 22 2023
News
Powell: Fed Likely Within 'A Couple of Rate Hikes' From Peak Interest Rate
Federal Reserve Chairman Jerome Powell told Senate lawmakers that he doesn't believe the central bank is done with its interest-rate increases yet. But the Fed might not be far off from its end goal, he said in response to a question from Sen. Jon Tester of Montana. "We expect continued modest growth, we expect, you know, continued gradual cooling off of the labor market, gradual and better
Wall Street Journal (News)
Jul 26 2023
News
Fed hikes interest rates to 22-year high as inflation fight resumes
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, resuming its campaign to increase borrowing costs and crush inflation after a brief pause in June.
The unanimous decision puts the key benchmark federal funds rate at a range of 5.25% to 5.5%, the highest since 2001, further restricting economic activity as the borrowing costs for homes, cars
Fox Business
Jul 26 2023
News
Fed raises interest rates a quarter point, signals it is prepared to do more
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of one percentage point and signaled it is prepared to do more to bring ‘elevated’ inflation down. The decision boosts the Fed’s benchmark interest rate to a range of 5.25%-5.5%. That’s the highest rate in 22 years. In a statement, the Fed said that it remained “highly attentive” to inflation risks. “The Committee
MarketWatch
Jun 15 2023
News
Fed must cut interest rates by 2024, warns economist
While the Federal Reserve has hit pause on its interest rate hikes, the central bank foresees raising its key rate at least two more times before the end of the year—something that economists think should be avoided to help release pressure on the commercial real estate market and the banking sector. After rising interest rates 10 consecutive times since March 2022—even as a banking crisis was
Newsweek
Jul 19 2023
News
M&T Bank beats profit estimates as higher rates boost interest income
July 19 (Reuters) - M&T Bank Corporation (MTB.N) beat Wall Street estimates for second-quarter profit on Wednesday, as the U.S. Federal Reserve's rapid rate hikes to tame inflation boosted the lender's interest income. Most consumer-facing lenders have tapped higher rates to charge more interest on their loans and credit card debt, with M&T's upbeat results echoing larger rivals
Reuters
May 04 2023
Analysis
Why the Fed’s latest interest rate hike is controversial
On Wednesday, the Federal Reserve raised interest rates another quarter point in regulators’ ongoing bid to reduce inflation. It’s a move that marks the Fed’s 10th straight rate hike and it’s one that’s proven contentious given fears that it could slow the economy too much.
The rate hike — which puts the Fed’s benchmark rate between 5 to 5.25 percent — comes as another mid-size bank,
Vox
Jul 26 2023
News
Fed Hikes Interest Rates By 25 Basis Points To Highest Level Since 2001
The Federal Reserve on Wednesday resumed its most aggressive hiking campaign in two decades, raising interest rates to a two-decade high. The Fed’s Open Market Committee unanimously decided at its meeting this week to bump the federal funds rate by 25 basis points to 5.25% to 5.5%, sending rates to their highest level since 2001. In its announcement, the Fed said it will continue to “assess”
Forbes
May 03 2023
News
Fed Raises Interest Rates to 16-Year High
WASHINGTON (Reuters)—The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess the fallout from recent bank failures, wait on the resolution of a political standoff over the U.S. debt ceiling, and monitor the course of inflation. The unanimous decision lifted the U.S. central bank's
Washington Free Beacon