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Jul 26 2023
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
Jul 26 2023
The Federal Reserve is widely expected to deliver another interest rate hike on Wednesday, resuming its campaign to jack up borrowing costs and crush inflation after a brief pause in June.
The projected quarter-percentage point hike would set the federal funds rate between 5.25% to 5.5%, further restricting economic activity as the borrowing costs for homes, cars and other items marchFox Business
Jun 19 2023
China's central bank on Tuesday cut two benchmark interest rates, following several similar measures last week in an attempt to counter the post-Covid growth slowdown in the world's second-largest economy.
The one-year Loan Prime Rate, which serves as a benchmark for corporate loans, was reduced from 3.65 percent to 3.55 percent, the People's Bank of China (PBoC) said in a statement,Barron's
Jun 15 2023
It finally happened: The Fed declined to raise interest rates at its policy meeting for the first time since March 2022. Why it matters: The last 15 months saw the sharpest series of rate hikes in 40 years — radically reshaping markets and the economy. Now, it might be the beginning of the end of that era. A few ways the tighter money has rippled out into the system: • It hammered the stockAxios
Jun 14 2023
Federal Reserve policymakers left the central bank’s benchmark interest rate unchanged despite inflation that has run above its target for over two years, saying the pause would allow it to gauge the effects of earlier hikes on the economy and inflation. The Fed said on Wednesday that it would hold its benchmark rate at a range of five percent to 5.25 percent, the range it set at its MayBreitbart News
Jun 14 2023
Mortgage rates pulled back for the second straight week last week, and it was enough to get both current and potential homeowners on the phone with their lenders.
Mortgage application volume rose 7.2% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The average contract interest rate for 30-year fixed-rateCNBC
Aug 14 2023
Argentina’s central bank devalued its currency, the peso, by close to 18% and hiked its benchmark interest rate by a whopping 21 percentage points to 118% on Monday following a shock primary election win by far-right libertarian Javier Milei.
The moves were a bid by the government to calm markets in the wake of the Argentinian congressman’s surprise victory, which gave him the largestCNBC
Jul 26 2023
Eleven times in 17 months. That’s how fast the Federal Reserve has hiked its overnight bank lending rate, which directly or indirectly affects many consumer rates.
The Fed’s aggressive campaign is intended to beat down inflation. And it may be working. Based on the latest reading, inflation as measured by the Consumer Price Index grew at just 3% in June. And the Fed’s preferredCNN Business
Jul 25 2023
The U.S. economy might be cooling enough to bring inflation down further, but not enough to keep the Federal Reserve from raising interest rates on Wednesday. After holding the benchmark interest rate steady in June, the Federal Open Market Committee is widely expected to hike short-term interest rates by another 25 basis points, or quarter of a percentage point, to a range of 5.25% to 5.5%,Barron's
Sep 18 2023
Perspectives BlogFrom the Center
Many years from now, when our grandchildren tune in to watch ChatGBT Jeopardy hosted by an AI simulation of Alex Trebeck, imagine them seeing a contestant select the $400 box under the “US Presidents” category. The clue would be “George W. Bush and Barack Obama”.
The correct question will be, “Who are the last two presidents not to be impeached?”