interest rate – News Stories About interest rate - Page 1

Fed Hikes Interest Rates
to a 22-Year High

Jul 26, 2023 1:05 PM CDT

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 Opts for a Skip This Time

The Federal Reserve Gives
Us a Skip and a Surprise

Jun 14, 2023 1:13 PM CDT

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 a 10th Time

Fed Raises Benchmark
Interest Rate to a 16-Year High

UPDATED

May 3, 2023 2:13 PM CDT

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...

Final Inflation Numbers Before Midterms Point to 6th Fed Hike

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

(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

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

(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

Jul 25, 2022 9:53 AM CDT

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

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...

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 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

May 4, 2022 1:26 PM CDT

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

Mar 21, 2022 1:20 PM CDT

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...

Fed Confirms Big Move
to Tame Inflation

Mar 16, 2022 1:16 PM CDT

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...

Jobs Report Suggests We're
on the Road to Recovery

Mar 4, 2022 8:54 AM CST

Jobs Report Suggests We're on the Road to Recovery

Employers added 678K new jobs, topping expectations

(Newser) - The monthly jobs figures are out for February, and they signal a return to "something resembling normal," reports the New York Times . A drop in coronavirus cases coincided with strong hiring and increased consumer spending. More:

Jobs: Employers added 678,000 jobs in February, topping economists' forecasts for

...

Fed Signals It Will Raise
Rates as Soon as March

Jan 26, 2022 2:30 PM CST

Fed Signals It Will Raise Rates as Soon as March

It will phase out its monthly bond purchases as well

(Newser) - The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. With high inflation squeezing consumers and businesses and unemployment falling steadily, the...

Fed Chief:
We'll Get
More Aggressive
on Inflation

Jan 11, 2022 11:46 AM CST

Fed Chief: We'll Get More Aggressive on Inflation

Jerome Powell tells Congress they'll raise interest rates more if need be

(Newser) - Federal Reserve Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed's goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. "If we...

Dow Passes 33K After
Fed Announcement

MARKETS

Mar 17, 2021 4:03 PM CDT

Dow Passes 33K After Fed Announcement

Interest rate likely to stay near zero until 2023

(Newser) - The Dow Jones Industrial Average and the S&P 500 closed at record highs Wednesday after the Federal Reserve said it expects its key interest rate to remain near zero through 2023. The central bank’s commitment to keeping rates at rock bottom lows comes even as it forecasts the...

Stocks Jump After
Big News From Fed

Jun 10, 2020 1:57 PM CDT

Stocks Jump After Big News From Fed

Interest rates expected to stay near zero until 2022

(Newser) - The Federal Reserve said Wednesday that it will keep buying bonds to maintain low borrowing rates and support a US economy mired in a deep recession with high unemployment. And it said nearly all its policymakers foresee no rate hikes through 2022. The Fed has cut its benchmark short-term rate...