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Jan 31 2024
News
Fed holds interest rates at a 23-year high
Officials at the US central bank have left interest rates at a 23-year high, while offering little certainty about the path ahead for borrowing costs.
The decision from the Federal Reserve again kept the target range for its benchmark rate, which helps set borrowing costs for mortgages, credit cards and other loans, at 5.25%-5.5%.
That is sharply higher than two years ago, when
BBC NewsJan 31 2024
News
The Federal Reserve holds interest rates steady but signals rate cuts may be coming
The Federal Reserve held interest rates steady on Wednesday but signaled that rates could fall in the coming months if inflation continues to cool.
Policy makers have kept their benchmark interest rate between 5.25% to 5.5% — the highest in over two decades — since July.
In its post-meeting policy statement, the Fed's rate-setting committee replaced a reference to possible future
NPR (Online News)Mar 06 2024
News
Egypt’s pound plunges after currency float, interest rate rise
The value of the Egyptian pound crashed on Wednesday after the country’s central bank floated the currency on international markets, while also hiking interest rates, in moves that are expected to pave the way for further loans from the International Monetary Fund (IMF).
In a statement, the Central Bank of Egypt said it had lifted its key overnight deposit rate by 600 basis points to 27
MarketWatchMar 14 2024
News
Michigan Senate approves cap on payday loan interest rates • Michigan Advance
Legislation to reform the state’s payday loan industry has passed the Michigan Senate. After passing through the Michigan Senate Finance, Insurance and Consumer Protection Committee in February, Senate Bill 632, sponsored by state Sen. Sarah Anthony (D-Lansing), and House Bill 4343, sponsored by Rep. Jennifer Conlin (D-Ann Arbor), were both approved by the full Senate on Thursday. Anthony’s
Michigan AdvanceMar 13 2024
News
High interest rates temper optimism for Tampa Bay real estate development
High interest rates and a dearth of qualified workers have tempered optimism for Tampa Bay's real estate development market, according to a new survey of local architects. The big picture: 81% of the 124 local architects who responded to the annual Voice of Architecture survey said this year's development-related economy will be "excellent" or "good." • That's higher than last year but lower
AxiosFeb 05 2024
News
Economy on track for interest rates cuts, Fed chair says
Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected to begin as early as May.
Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation’s job market and economy are strong, with no sign of a recession on the horizon.
The OregonianJan 31 2024
News
Federal Reserve signals that interest rate cuts aren't imminent and leaves rates unchanged for now
QuartzJan 31 2024
News
Fed signals openness to cutting interest rates, but not quite yet
The Federal Reserve held interest rates steady for the fourth straight meeting and signaled its openness to cutting them, though not necessarily right away. In a statement issued after their two-day meeting, Fed officials dropped their previous assertion that a rate hike was possible and instead adopted a more even-handed assessment of the future policy path. “The Committee judges that the
The Dallas Morning NewsApr 11 2024
Analysis
Biden Says Fed Will Cut Interest Rates by Year’s End, Raising Questions About Central Bank’s Independence.
President Joe Biden is standing by his prediction that the Federal Reserve will enact an interest rate cut before the end of the year. The President doubled down on the rate cut prediction despite a Consumer Price Index (CPI) print released on Wednesday suggesting that inflation was reaccelerating.
“Well, I do stand by my prediction that, before the year is out, there’ll be a rate cut
The National PulseMar 17 2024
News
Presidential election or not, the Fed will cut interest rates in the fall if it must, economists say
Washington (CNN) — A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. This should have been the week the Federal Reserve finally begins to cut interest rates after rapidly raising them to a 23-year high, at least according to Wall Street
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