interest rate cut

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Powell Hints at Rate Cut, and Markets Surge

But Federal Reserve chief doesn't offer specifics in speech

(Newser) - Fed chief Jerome Powell signaled Friday that he's ready to cut interest rates in the near future, though he offered no specifics and plenty of caveats in a closely watched speech. Still, the comments were enough to send markets surging, with the Dow rising more than 700 points as...

Fed Announces 3rd Rate Cut of the Year
Fed Announces 3rd
Rate Cut of the Year
UPDATED
Dec 18, 2024 2:02 PM CST

Fed Announces 3rd Rate Cut of the Year

Dow drops after central bank predicts fewer rate cuts in 2025

(Newser) - The Federal Reserve announced its third interest rate cut of the year on Wednesday. The quarter-point cut, which follows a plus-sized half-point cut in September and a quarter-point cut last month, brings the Fed's benchmark rate from about 4.6% to roughly 4.3%, the AP reports. The September...

The Fed Has Its Final Data Point Before Rate-Cut Decision

US inflation ticked up in November, but a cut is still expected

(Newser) - Fueled by pricier used cars, hotel rooms, and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Consumer prices rose 2.7% in November from a year earlier, up from a yearly figure of 2.6% in October....

How Will Fed's 'Great News for the Middle Class' Affect You?

Unusually hefty half-point rate cut will mean possible relief on car loans, mortgages, credit cards

(Newser) - Borrowing over the past couple of years has been a painful prospect for Americans, as high interest rates meant to curb inflation kept consumer payments steep. Now, after the Federal Reserve made its unusually large half-point cut on Wednesday, leading to a key interest rate of between 4.75% and...

Fed Chair Says Big Rate Cut Is 'Timely'

Some critics think central bank 'jumped the gun' with half-point cut

(Newser) - "We know that it is time to recalibrate our policy to something that's more appropriate given the progress on inflation," Federal Reserve Chair Jerome Powell said at a news conference Wednesday after the central bank cut its benchmark interest rate by an unusually large half-point. The move...

The Financial Question Driving Wednesday: How Big?

Whether the Fed will go with a 0.25% or 0.5% cut remains to be seen

(Newser) - Wednesday marks a long-awaited day: the Fed's first rate cut since the COVID pandemic began will likely be announced at 2pm ET. But while there is near-certainty a cut is coming to the current key interest rate of 5.3%, the size of the cut remains murkier.
  • CNN notes
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Jerome Powell Has a Very Big Week
Jerome Powell
Has a Very
Big Week
Sep 17, 2024 9:19 AM CDT

Jerome Powell Has a Very Big Week

Fed is expected to cut rates for the first time in 4 years, but by how much?

(Newser) - The Federal Reserve begins a highly anticipated two-day meeting on Tuesday in which the central bank is expected to cut interest rates for the first time in four years. The big question is whether the cut to its benchmark rate—currently between 5.25% and 5.5%—will be one...

The Fed Just Got a Big High Sign to Cut Interest Rates

US inflation cools for 5th month in a row

(Newser) - The post-pandemic spike in US inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week. Wednesday's report from the Labor Department showed that consumer prices rose 2.5% in August from a year...

Why the Latest Jobs Report Is Such a Big Deal

It could affect White House race as well as Fed rate cuts

(Newser) - The monthly jobs report comes out Friday morning and since it has the potential to affect both the presidential race and the Federal Reserve's long-anticipated interest rate cut, it's being very closely watched. Economists will be watching to see if the unexpected spike in the unemployment rate in...

July's Inflation Number Could Pave the Way for a Rate Cut

Prices rose 2.9% year over year, the lowest since March 2021

(Newser) - Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday's report from the Labor Department showed that consumer prices...

New Inflation Numbers Signal an End to the Worst

Fed's favored inflation gauge remains low, signaling that it could cut interest rates in the fall

(Newser) - The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates this fall. Prices rose just 0.1% from May to June, the Commerce Department said Friday, up from the...

Those 3 Fed Rate Cuts Are Starting to Look Shaky

Friday's strong jobs report has economists adjusting their expectations

(Newser) - Fewer than three weeks ago, the Fed signaled that they still expected to cut their key interest rate three times in 2024 , taking it down three-quarters of a point from its current 5.25% to 5.5% range. Traders are now growing increasingly doubtful that many cuts will come to...

Fed Cuts Rates Again, With a Big 'But'

The short-term rate is lowered to between 1.5% and 1.75%

(Newser) - The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats, the AP reports. But it hinted that it won't likely cut again this year. The Fed's move reduces the short-term...

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...

What It Means If the Fed Cuts Rates This Afternoon
The Fed Just Made
a Major Reversal
the rundown
Jul 31, 2019 1:22 PM CDT

The Fed Just Made a Major Reversal

Cuts key interest rate by a quarter-point

(Newser) - As expected, the Federal Reserve on Wednesday cut its key interest rate for the first time since December 2008. The benchmark short-term rate was lowered by a quarter-point to a range of 2% to 2.25%, the AP reports. The Fed also repeated a pledge to "act as appropriate...

Fed Chief Indicates We're In for a Rate Cut

Possibly as soon as the July meeting

(Newser) - The S&P 500 crossed the 3,000 threshold for the first time ever Wednesday, as expectations for a July rate cut rise, reports CNBC . Federal Reserve Chairman Jerome Powell said Wednesday that "many" Fed officials believe a weakening global economy and rising trade tensions have strengthened the case...

Fed Keeps Rates Low
 Fed Keeps Rates Low 
Dec 16, 2009 2:10 PM CST

Fed Keeps Rates Low

But central bank sees hope amid slow recovery

(Newser) - The Federal Reserve has decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment. But in a more upbeat assessment, the Fed says the US economy has "continued to...

Fed Leaves Rate at Record Low

Says it wants to foster recovery

(Newser) - The Federal Reserve today held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery. The Fed says economic activity has "continued to pick up" and that the housing market also has grown...

Recession Delivers Double Whammy to Legal Aid Offices

(Newser) - The recession has crippled funding for legal aid even as it has bumped up the number of people requesting representation, McClatchy reports. Though the federal government ramped up spending this year—and plans an even bigger increase for 2010—state funding and private donations have cratered, forcing legal aid to...

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