Federal Reserve

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After Worrying, Market Rallies
Market Rallies After Comments
markets
Jan 20, 2023 4:04 PM CST

Market Rallies After Comments

Fed governor says he wants just quarter-point increase in interest rates

(Newser) - 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 Disappoints Investors
Stocks Slump After Fed
Disappoints Investors
MARKETS
Dec 14, 2022 4:08 PM CST

Stocks Slump After Fed Disappoints Investors

Interest rates will stay higher than markets had expected

(Newser) - 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
Fed Announces 7th
Interest Rate Hike of 2022
UPDATED
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

(Newser) - 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&#39;s Remarks
Dow Jumps 737 Points
After Fed Chair's Remarks
MARKETS
Nov 30, 2022 3:49 PM CST

Dow Jumps 737 Points After Fed Chair's Remarks

Powell says rate hikes likely to slow down

(Newser) - 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

Officials at central bank said smaller rate hikes would be appropriate 'soon'

(Newser) - 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&#39;s Remarks
Dow Drops 505 Points
After Fed Chief's Remarks
MARKETS
Nov 2, 2022 4:03 PM CDT

Dow Drops 505 Points After Fed Chief's Remarks

Powell signals that rate hikes will continue

(Newser) - 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 Does the Expected, Raises Rates 0.75 Points
Fed Unleashes a
4th Hefty Rate Hike
UPDATED
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

(Newser) - 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

'Wall Street Journal' suggests central bank might ease up on hikes, cheering the stock market

(Newser) - 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

6.6% over the past 12 months

(Newser) - 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

For the third straight time

(Newser) - 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

Average rate hits 6% for the first time since 2008

(Newser) - 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

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...

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