interest rate

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Long-Cautious Jamie Dimon Has Another Economic Warning

He sees the potential for interest rates to hit 8% or more

(Newser) - Some market watchers suspect the Fed won't cut rates at all in 2024. JPMorgan Chase CEO Jamie Dimon sees the potential for things to move sharply in the other direction. In an annual letter to JPMorgan Chase shareholders released Monday, Dimon warned that while he expects the US economy...

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...

Federal Reserve Keeps Rate As-Is Yet Again

It holds for 5th straight time, with 3 cuts still expected in 2024

(Newser) - After ending their latest meeting, Federal Reserve officials kept their benchmark interest rate unchanged for a fifth straight time at between 5.25% and 5.5%, reports the Wall Street Journal. They signaled that they still expect to cut their key interest rate three times in 2024 despite signs that...

Jerome Powell Asks Americans to Be Patient

Fed chair indicates central bank is still on track to cut interest rates this year, though

(Newser) - In an appearance on 60 Minutes Sunday, Jerome Powell said the Federal Reserve is still on track to cut interest rates three times in 2024. The Fed chair acknowledged that as the central bank has raised its benchmark rate 11 times since 2022 to fight inflation, Americans looking to buy...

Powell on Rate Cuts: 'Path Forward Is Uncertain'

Federal Reserve holds key rate steady

(Newser) - This story has been updated with Powell's remarks. The Federal Reserve, surprising nobody, left its benchmark interest rate unchanged Wednesday at between 5.25% and 5.5%, its highest in 23 years. This was the fourth Fed meeting in a row that resulted in no change to the key...

Fed Holds Key Rate at 22-Year High
Fed Holds Key Rate
at 22-Year High
Nov 1, 2023 1:19 PM CDT

Fed Holds Key Rate at 22-Year High

Central bank says households, businesses are facing tighter credit conditions

(Newser) - The Federal Reserve held its key interest rate steady at a 22-year high on Wednesday—but the central bank left open the possibility of another rise in the months ahead. The Wall Street Journal reports that while inflation has slowed, officials could raise rates in December or January if it...

Fed Hikes Interest Rates to a 22-Year High

Quarter-point increase is 11th in 17 months

(Newser) - The expectation was that the Federal Reserve would lift its key interest rate for the 11th time in 17 months, and that's exactly what came to pass on Wednesday. The quarter-point hike brings the the Fed's short-term rate to roughly 5.3%, the highest level since 2001. As...

The Federal Reserve Gives Us a Skip and a Surprise

Leaves interest rates alone for first time in 15 months, but 2 more hikes could come

(Newser) - After a 10-meeting run of raising interest rates, the Federal Reserve on Wednesday decided to leave rates alone—but in a surprise, indicated two more hikes could come before 2023 is through, reports CNBC . The decision is being viewed as more of a "skip" than a pause and leaves...

Fed Raises Benchmark Interest Rate to a 16-Year High

But the next move could be a cut

(Newser) - This story has been updated with remarks from Fed officials. The Federal Reserve hiked its benchmark interest rate for the 10th time on Wednesday in what analysts predict could be the last rise for now in the central bank's fight against inflation. The Fed signaled that a pause could...

Fed's Powell Speaks, and Markets Aren't Thrilled


Fed Chair Has
More Bad News
Mar 7, 2023 10:45 AM CST

Fed Chair Has More Bad News

Guess what? Higher interest rates likely coming

(Newser) - Jerome Powell opened his mouth on Tuesday before the Senate Banking Committee, Wall Street listened and wasn't happy, and probably no one who's possession of a variable interest rate will be, either. "The latest economic data have come in stronger than expected, which suggests that the ultimate...

The Fed Hikes Rates Again, Just Not by as Much
The Fed Hikes Rates
for 8th Time in a Row
UPDATED
Feb 1, 2023 2:34 PM CST

The Fed Hikes Rates for 8th Time in a Row

''We're going to be cautious about declaring victory,' Powell says

(Newser) - This story has been updated with Powell's remarks. The Federal Reserve hiked rates by a quarter point on Wednesday, an expected move in its fight against inflation. It marks the smallest increase since last March, and is down from December's half-point increase. CNBC reports it marks the 8th...

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...

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'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...

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