Federal Reserve

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Federal Reserve Chooses Larger Interest Rate Cut

Key rate lowered by a half-point

(Newser) - The Federal Reserve, as had been almost universally expected, cut its key interest rate from a 23-year-high on Wednesday, dropping it by half a percentage point in what is likely to be the first in a series of cuts. There had been a lot of speculation over whether the Fed...

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
...

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...

Much-Anticipated Jobs Report a Bit Weaker Than Expected

Employers added 142K jobs in August, fewer than forecast, but that's up from July

(Newser) - One of the most anticipated jobs reports in years is out, and it's a mix of good and bad news. One big takeaway is that the data keeps the Federal Reserve on track to cut interest rates later this month, though the size of the potential cut isn't...

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...

Fed Chief: 'The Time Has Come for Policy to Adjust'

Jerome Powell hints a rate cut is coming soon in a closely watched speech

(Newser) - The Fed chief gave a highly anticipated speech on Friday and delivered words Wall Street very much wanted to hear: "The time has come for policy to adjust." Translation: The Federal Reserve plans to cut interest rates at its September meeting, reports the Wall Street Journal . While Powell...

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...

Trump's Controversial Pitch: I Want Sway Over the Fed

Former president wants more influence over interest rates should he win in November

(Newser) - During his news conference on Thursday, Donald Trump broached a controversial topic—whether presidents should have more direct influence over interest rates. "I feel the president should have at least (a) say in there," Trump said, as quoted by Reuters . "I think that in my case, I...

Financial Contagion Slams World Markets

Japan's index has worst day since 1987 crash, and Dow futures are down 800 points

(Newser) - The stock market ended last week in rough shape thanks to renewed fears of a US recession . Things appear to be getting worse Monday, with Dow futures plunging and world markets in similar shape:
  • In the US: Dow futures dropped more than 800 points, or 2%, reports CNBC . Futures for
...

Wall Street Selloff Intensifies After Jobs Report
Dow Is Plunging
After Jobs Report
Aug 2, 2024 10:50 AM CDT

Dow Is Plunging After Jobs Report

Index down more than 900 points after weak employment data

(Newser) - Friday morning's weak jobs report has led to a selloff on Wall Street: The Dow plunged more than 900 points, or 2.3%, in late-morning trading, while the S&P 500 was off 2.2% and the tech-centric Nasdaq was down 2.4%. In fact, the benchmark S&P...

Powell: Rate Cut Decision Will Be 'Apolitical'

Fed chairman says September cut 'could be on the table' if conditions are met

(Newser) - Federal Reserve Chairman Jerome Powell said Wednesday that the central bank could cut its key interest rate in September—and he stressed the November election will not affect the timing of cuts.
  • Powell, speaking to reporters after the Fed left the rate unchanged at its highest level in 23 years,
...

Federal Reserve Keeps Key Rate Unchanged

But central bank sees 'further progress' toward goal of reducing inflation to 2%

(Newser) - The Federal Reserve has held its key interest rate steady at a 23-year high for a year—and while it decided again on Wednesday to keep it unchanged, it signaled that a cut could be on the way soon. Fed-watchers weren't expecting a rate cut Wednesday, but they were...

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...

US Economy's Q2 Provides 'a Perfect Report for the Fed'

GDP grew, but not too much, at 2.8%

(Newser) - The nation's economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates, reports the AP . Thursday's report from the Commerce Department said the gross domestic product—the economy's total output of...

Fed Predicts Just One Rate Cut This Year
Fed Predicts Just
One Rate Cut This Year
UPDATED
Jun 12, 2024 2:34 PM CDT

Fed Predicts Just One Rate Cut This Year

Central bank holds key rate steady once again

(Newser) - The Federal Reserve, as widely predicted, held its key interest rate steady once again on Wednesday. The Fed's benchmark rate remains at a 23-year-high of between 5.25% and 5.5%. While nobody was expecting a big surprise with interest rates Wednesday, investors were waiting for an update on...

Inflation Finally Cools— Just in Time for Fed Decision

Markets are happy just hours before central bank decides on rates

(Newser) - Wednesday will be another big day on Wall Street, as investors await a decision by the Federal Reserve on interest rates. Some key factors at play:
  • Inflation eases: Hours before the decision, a new report showed that inflation slowed in May, reports the New York Times . The Consumer Price Index
...

Fed Holds Key Rate Steady for a 6th Time in a Row
Fed Says Key Rate
Will Stay at 23-Year High
UPDATED
May 1, 2024 2:17 PM CDT

Fed Says Key Rate Will Stay at 23-Year High

Powell cites lack of 'further progress' on taming inflation, says rate hike is 'unlikely'

(Newser) - This story has been updated with Powell's remarks. As widely expected, the Federal Reserve held its benchmark interest rate unchanged Wednesday for a sixth straight meeting at between 5.25% and 5.5%, the highest level since 2001. The central bank said it won't cut rates until it...

Inflation Is Still Running Too High
Inflation Is Still
Running Too High
Apr 10, 2024 7:50 AM CDT

Inflation Is Still Running Too High

New report is again above expectations, at 3.5%

(Newser) - A new and highly anticipated inflation report is out, and the numbers show that inflation remains stubbornly above where the Federal Reserve wants it to be. The March report marks three months in a row of higher-than-expected inflation, which could further jeopardize the Fed's plan to cut rates three...

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...

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