interest rate

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Fed's Latest Rate Hike Is Again a Massive One

Fed raised benchmark interest rate by a hefty 0.75 percentage point

(Newser) - The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. The Fed's move will raise its key rate, which affects many consumer and business loans,...

Investors See Rate Cuts on the Horizon

WSJ: Fed expected to keep raising through end of this year, then cutting again in 2023

(Newser) - The Federal Reserve meets this week, and the suspense is not whether it will raise interest rates, but by how much. While speculation swirled earlier in the month that the Fed might raise its benchmark rate by an unprecedented 1 full percentage point, the best bet now is that the...

Mortgage Demand Hits 22-Year Low
Mortgage Demand
Hits 22-Year Low
Jul 20, 2022 10:50 AM CDT

Mortgage Demand Hits 22-Year Low

The real estate market is cooling amid high rates, high inflation, high prices

(Newser) - While heat waves and wildfires have dominated recent headlines, there’s a major cooling trend in the US housing market. According to the Mortgage Bankers Association's weekly survey, mortgage applications dropped a seasonally adjusted 6.3% last week, per CNBC. That puts mortgage demand at its lowest point since...

Historic Rate Hike Is Now a Good Bet
Fed's Next Move May Be
an Unprecedented One
the rundown
Jul 14, 2022 12:32 PM CDT

Fed's Next Move May Be an Unprecedented One

Central bank may raise rates one full percentage point later this month

(Newser) - After Wednesday's worse-than-expected inflation report , investors are bracing for something that would have been unthinkable even a few months ago: a rate hike of one full percentage point. Coverage:
  • Odds growing: CNBC reports that in the wake of the inflation data, futures markets are now betting on the steep
...

Fed Announces Biggest Rate Hike This Century
Fed Announces Biggest
Rate Hike Since 1994
UPDATED
Jun 15, 2022 2:49 PM CDT

Fed Announces Biggest Rate Hike Since 1994

Benchmark rate is going up by three-quarters of a point

(Newser) - This story has been updated with Powell's remarks. The Federal Reserve, fighting to tame inflation, is raising its key interest rate by three-quarters of a point—triple the usual amount, and the biggest hike since 1994. Fed Chairman Jerome Powell dismissed the idea of a rate hike this size...

Federal Reserve Announces Biggest Rate Hike in 22 Years

Benchmark interest rate is going up by a half-point

(Newser) - In a widely expected move, the Federal Reserve has raised its key interest rate by a half-percentage point, the first time it has done so since 2000. The Fed, which is fighting to tame inflation, signaled that there will be more large rises in its benchmark short-term interest rate to...

Fed Might Do What It Hasn't Done in 22 Years

Jerome Powell floats possibility of half-point hike in interest rates

(Newser) - Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected if it decides that this would be necessary to slow rampaging inflation, per the AP . His comments did not please the markets. Immediately afterward, the major indexes fell noticeably, with the...

Fed Confirms Big Move to Tame Inflation

Benchmark interest rate is going up for the first time since 2018

(Newser) - The Federal Reserve, in the first of what is expected to be a series of hikes, is raising its key short-term interest rate by a quarter-point from near zero. The central bank, which is fighting to tame the worst inflation in 40 years, signaled Wednesday that there could be up...

Jobs Report Suggests We're on the Road to Recovery

Employers added 678K new jobs, topping expectations

(Newser) - The monthly jobs figures are out for February, and they signal a return to "something resembling normal," reports the New York Times . A drop in coronavirus cases coincided with strong hiring and increased consumer spending. More:
  • Jobs: Employers added 678,000 jobs in February, topping economists' forecasts for
...

Fed Signals It Will Raise Rates as Soon as March

It will phase out its monthly bond purchases as well

(Newser) - The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. With high inflation squeezing consumers and businesses and unemployment falling steadily, the...

Fed Chief: We'll Get More Aggressive on Inflation

Jerome Powell tells Congress they'll raise interest rates more if need be

(Newser) - Federal Reserve Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed's goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. "If we...

Dow Passes 33K After Fed Announcement
Dow Passes 33K After
Fed Announcement
MARKETS
Mar 17, 2021 4:03 PM CDT

Dow Passes 33K After Fed Announcement

Interest rate likely to stay near zero until 2023

(Newser) - The Dow Jones Industrial Average and the S&P 500 closed at record highs Wednesday after the Federal Reserve said it expects its key interest rate to remain near zero through 2023. The central bank’s commitment to keeping rates at rock bottom lows comes even as it forecasts the...

Stocks Jump After Big News From Fed

Interest rates expected to stay near zero until 2022

(Newser) - The Federal Reserve said Wednesday that it will keep buying bonds to maintain low borrowing rates and support a US economy mired in a deep recession with high unemployment. And it said nearly all its policymakers foresee no rate hikes through 2022. The Fed has cut its benchmark short-term rate...

Fed Indicates It Will Hold Rates Near Zero for Months

Fed will also keep buying Treasury and mortgage bonds

(Newser) - The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. As part of its emergency steps, the Fed said it...

Fed Responds to Coronavirus Outbreak With Big Rate Cut

The benchmark interest rate is reduced to nearly zero

(Newser) - The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak, the AP reports. The central bank said the...

Fed Leaves Key Rate Unchanged
Fed Leaves Key Rate Unchanged
Jan 29, 2020 1:32 PM CST

Fed Leaves Key Rate Unchanged

Key interest rate remains at 1.5% to 1.75%

(Newser) - The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the US economy in the statement it released after its latest...

Fed Doesn't Mess With Rates and Doesn't Expect to in 2020

It removes language about 'uncertainties'

(Newser) - The Federal Reserve had signaled a pause was coming, and on Wednesday that's what we got. Following a series of three rate cuts, the Fed at its December meeting kept its benchmark interest rate unchanged at between 1.5% and 1.75%. And should their expectations for the economy...

Sharply Divided Fed Again Reduces Rates

But may not do so again this year

(Newser) - A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year, the AP reports. The Fed's move reduces its key short-term rate—which influences many consumer and business loans—by an...

Trump: Fed 'Boneheads' Need to Try Negative Interest Rates

President is once again criticizing Jerome Powell and his colleagues

(Newser) - President Trump continued his long-running critique of the Federal Reserve Wednesday in a series of tweets blasting his own hand-picked chair, Jerome Powell, and the rest of the "Boneheads" there who, he said, need to be slashing interest rates below zero—a far cry from the comparatively moderate rate...

Trump Slams &#39;Clueless&#39; Fed Chief, &#39;Crazy&#39; Yield Curve
Trump Blasts
'Crazy Inverted
Yield Curve'
THE RUNDOWN
Aug 15, 2019 6:47 AM CDT

Trump Blasts 'Crazy Inverted Yield Curve'

Economists are split on signs of a recession

(Newser) - President Trump says the American economy is doing magnificently and we are "winning, big time, against China"—but one of the things still holding the economy back is the Federal Reserve chairman he appointed. In a pair of tweets Wednesday, Trump renewed his attacks on Jerome Powell, calling...

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