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Stories 1 - 20 |
Market Rallies After Comments
Jan 20, 2023 4:04 PM CST
Market Rallies After Comments
Fed governor says he wants just quarter-point increase in interest rates
- A rough week on Wall Street dominated by worries about a weakening economy ended Friday with a broad rally that gave the market its best day in two weeks. The Dow rose 330.93 points, or 1%, to 33,375.49; the S&P 500 climbed 73.76 points, or...
Stocks Slump After Fed
Dec 14, 2022 4:08 PM CST
Stocks Slump After Fed Disappoints Investors
Interest rates will stay higher than markets had expected
- Stocks ended lower in bumpy trading on Wall Street after the Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead. As expected, the central bank raised its key short-term rate by half a percentage point Wednesday, marking its seventh increase...
Fed Announces 7th
Interest Rate Hike of 2022
Dec 14, 2022 1:56 PM CST
Fed Announces 7th Interest Rate Hike of 2022
Half-point increase is smaller than last four super-sized rate hikes
This story has been updated to include market movements
. As widely expected, the Federal Reserve announced Wednesday that it is raising its key interest rate by half a percentage point, to a range of 4.25 to 4.5%—a smaller increase than the previous four rate hikes, which were...
Dow Jumps 737 Points
After Fed Chair's Remarks
Nov 30, 2022 3:49 PM CST
Dow Jumps 737 Points After Fed Chair's Remarks
Powell says rate hikes likely to slow down
- Stocks rallied on Wall Street and major indexes ended November with their second straight month of gains after the head of the Federal Reserve said the central bank could soon ease up on its aggressive pace of interest rate hikes aimed at taming inflation. The S&P 500 rose 122....
Stocks Edge Higher
After Release of
Fed Meeting Minutes
Nov 23, 2022 3:46 PM CST
Stocks Edge Higher After Release of Fed Meeting Minutes
Officials at central bank said smaller rate hikes would be appropriate 'soon'
- Stocks closed higher on Wall Street following the release of the minutes from the Federal Reserve’s most recent policy meeting, which showed Fed officials agreed that smaller rate hikes would likely be appropriate "soon." That's likely to stoke optimism among investors who have been trying to...
Dow Drops 505 Points
After Fed Chief's Remarks
Nov 2, 2022 4:03 PM CDT
Dow Drops 505 Points After Fed Chief's Remarks
Powell signals that rate hikes will continue
- Stocks closed broadly lower on Wall Street Wednesday after Federal Reserve Chair Jerome Powell signaled that the central bank will eventually need to bring rates higher than previously anticipated in order to tame the worst inflation in decades. The Fed also announced its fourth straight extra-large rate increase of three-quarters...
Fed Unleashes a
4th Hefty Rate Hike
Nov 2, 2022 2:08 PM CDT
Fed Unleashes a 4th Hefty Rate Hike
It pumped up its benchmark interest rate Wednesday by three-quarters of a point
This story has been updated with Powell's remarks
. The Fed's November move was expected and came to pass: The Fed hiked interest rates by three-quarters of a percentage point Wednesday for the fourth time in a row, putting the central bank's benchmark rate between 3.75% and...
Fed May Start Shifting
Strategy on Rates
Oct 21, 2022 10:00 AM CDT
Fed May Start Shifting Strategy on Rates
'Wall Street Journal' suggests central bank might ease up on hikes, cheering the stock market
- The stock market was in a good mood on Friday, with the Dow up about 300 points after the first hour of trading. One reason seems to be a story in the
Wall Street Journal
suggesting that the Federal Reserve might start cooling down its rate hikes. Both CNBC and...
Annual 'Core' Inflation Sees
Biggest Jump in 40 Years
Oct 13, 2022 8:13 AM CDT
Annual 'Core' Inflation Sees Biggest Jump in 40 Years
6.6% over the past 12 months
- Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received, and ensuring that the Federal Reserve will keep raising interest rates aggressively. Consumer prices rose 8.2% in September, compared with a...
Fed Raises Rates by Another
Three-Quarters of a Point
Sep 21, 2022 1:50 PM CDT
Fed Raises Rates by Another Three-Quarters of a Point
For the third straight time
- The Federal Reserve on Wednesday raised its key rate by a hefty three-quarters of a point for third straight time to fight inflation. CNN notes it was a history-making move, and one that puts the central bank's benchmark lending rate in a target range of 3% to 3.25%....
Mortgage Rates Reach
an Unwanted Milestone
Sep 15, 2022 10:11 AM CDT
Mortgage Rates Reach an Unwanted Milestone
Average rate hits 6% for the first time since 2008
- Someone who closes on a house this month will be paying twice the mortgage rate of a year ago. The average rate on a 30-year fixed-rate mortgage reached 6% this week for the first time since the recession days of 2008, reports the
New York Times
. That's up from...
New Inflation Report
Is an Unhappy Surprise
Sep 13, 2022 7:48 AM CDT
New Inflation Report Is an Unhappy Surprise
Consumer prices rise 0.1% in August, had been expected to decline
- Investors were fully expecting good news from the new monthly inflation report out Tuesday. But instead of declining, prices actually
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:
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
- 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
Aug 26, 2022 9:31 AM CDT
Powell Warns of 'Some Pain' for Households, Businesses
But Fed chief says the central bank must keep raising rates to prevent greater pain
- 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
Jul 27, 2022 1:28 PM CDT
Fed's Latest Rate Hike Is Again a Massive One
Fed raised benchmark interest rate by a hefty 0.75 percentage point
- 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,...
Jul 25, 2022 9:53 AM CDT
Investors See Rate
on the Horizon
WSJ: Fed expected to keep raising through end of this year, then cutting again in 2023
- 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
Jul 15, 2022 3:10 PM CDT
Markets End the Week With a Surge
Dow jumps 2%, more than 650 points
- 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
Fed's Next Move May Be
an Unprecedented One
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
- 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:
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
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
- 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 Rebound After
Fed's Big Rate Hike
Jun 15, 2022 3:40 PM CDT
Stocks Rebound After Fed's Big Rate Hike
S&P 500 rose 1.5%
- 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...
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