Federal Reserve

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New Inflation Report Is an Unhappy Surprise

Consumer prices rise 0.1% in August, had been expected to decline

(Newser) - Investors were fully expecting good news from the new monthly inflation report out Tuesday. But instead of declining, prices actually rose in August. Which means the Federal Reserve is all but certain to forge ahead with an aggressive rate hike at its Sept. 20-21 meeting. Details:
  • Monthly rise: Prices rose
...

Mortgage Rates Near 6%
Mortgage Rates Hit 2008 Levels
Sep 8, 2022 4:50 PM CDT

Mortgage Rates Hit 2008 Levels

Climb is tied to Powell's stay-the-course comment, analyst says

(Newser) - A year ago, mortgage rates were below 3%. On Thursday, Freddie Mac data showed the average rate for a 30-year fixed mortgage was up to 5.89%, the highest point since 2008, NBC News reports. Rates briefly dropped this summer as the Federal Reserve raised the key interest rate in...

Powell Warns of 'Some Pain' for Households, Businesses

But Fed chief says the central bank must keep raising rates to prevent greater pain

(Newser) - Fed chief Jerome Powell delivered a closely watched speech on Friday that made clear he expects the central bank to continue raising interest rates, reports CNBC . Wall Street didn't seem thrilled: The Dow fell 200 points as Powell spoke in Jackson Hole, Wyoming, and it was down more than...

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...

Markets End the Week With a Surge
Markets End the Week
With a Surge
MARKETS
Jul 15, 2022 3:10 PM CDT

Markets End the Week With a Surge

Dow jumps 2%, more than 650 points

(Newser) - The stock market ended another up-and-down week with a strong day. The Dow climbed 658 points, or 2.1%, to 31,288; the S&P 500 rose 72 points, or 1.9%, to 3,863; and the Nasdaq rose 201 points, or 1.7%, to 11,452. The Wall Street ...

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
...

What to Do, and Not to Do, as a Recession Looms
What to Do, and Not to Do,
as a Recession Looms
the rundown
Jun 16, 2022 9:55 AM CDT

What to Do, and Not to Do, as a Recession Looms

Dow drops below 30K as bear market deepens

(Newser) - The stock market actually rose Wednesday in the immediate aftermath of the Fed's decision to raise rates by a whopping 0.75% . Thursday, not so much. Major indexes fell more than 2% in early trading and sent the Dow below 30,000, its lowest level in more than a...

Stocks Rally After Fed&#39;s Big Rate Hike
Stocks Rebound After
Fed's Big Rate Hike
MARKETS
Jun 15, 2022 3:40 PM CDT

Stocks Rebound After Fed's Big Rate Hike

S&P 500 rose 1.5%

(Newser) - Stocks rallied in a roller-coaster day of trading on Wall Street Wednesday after the Federal Reserve hiked interest rates by the biggest margin since 1994, but also said such mega-hikes would not be common. The Fed did signal that more increases are on the way as it tries to tackle...

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...

Tech Stocks Hit Wrong Kind of Milestone


Is the Tech
Bubble
Bursting?
May 10, 2022 6:30 AM CDT

Is the Tech Bubble Bursting?

Leading companies have lost $1T in value in just 3 days, reports CNBC

(Newser) - Soaring tech stocks hit all kinds of milestones as they led a market resurgence. Now comes a milestone of the opposite variety: CNBC reports that the biggest companies in the sector have lost a combined $1 trillion in value in just the last three days of trading. Apple has fared...

Wall Street Is Having a Rough Day
It's Been a Brutal
Morning on Wall Street
MARKETS
May 5, 2022 11:00 AM CDT

It's Been a Brutal Morning on Wall Street

Dow falls more than 1K, and tech stocks are cratering a day after Fed move

(Newser) - Stocks are slumping in a big way on Wall Street, erasing a rally from a day earlier as markets assess the looming fallout from the Federal Reserve's stepped-up fight against inflation. Around noon, the Dow had fallen more than 1,100 points, or 3.2%, and the S&P...

After Fed Chair's Remarks, Stocks Soar to Biggest Gain in 2 Years

Jerome Powell downplayed chances of even bigger rate increase

(Newser) - Stocks soared to their biggest gain in two years Wednesday and bond yields dropped after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger rate increase than the one announced Wednesday. That allayed concerns that the central bank was on its way to a massive increase of...

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...

Investors Are 'Positioning' Ahead of Fed Rate Decision

Indexes edged higher Tuesday

(Newser) - Stock closed modestly higher on Wall Street Tuesday as investors await Wednesday’s decision by the Federal Reserve on interest rates. The S&P 500 rose 20.10 points, or 0.5%, to 4,175.48. The Dow Jones Industrial Average rose 67.29 points, or 0.2%, to 33,...

Stocks Drop After Minutes From Fed Meeting Released

Tech stocks were the biggest drag on the market

(Newser) - Stocks fell and bond yields rose on Wall Street Wednesday after details from last month’s Federal Reserve meeting showed the central bank intends to be aggressive in its efforts to fight inflation. Minutes from the meeting show that policymakers agreed to begin cutting the Fed’s stockpile of Treasurys...

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...

Stocks, Bond Yields Rise Sharply After Fed Announcement

S&P 500 jumped 2.2%

(Newser) - Stocks shook off an afternoon stumble and ended higher on Wall Street Wednesday after the Federal Reserve announced its first interest rate hike since 2018. Bond yields also rose as the Fed started to shift its policy to fighting inflation, the AP reports. The S&P 500 rose 95.41...

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...

Biden Fed Nominee Withdraws After Manchin Says No

Biden says Sarah Bloom Raskin was 'subject to baseless attacks'

(Newser) - Update: Sarah Bloom Raskin has withdrawn from consideration for a key post on the Federal Reserve's board of governors, handing Sen. Joe Manchin another win. The Democrat joined all 50 Republicans in the Senate Monday in opposition to confirming Bloom at the Fed's top banking regulator. In a...

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