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The FOMC left rates unchanged the day after the Bankruptcy of Lehman Brothers. Official Statement: August 5, 2008 2.00% 2.25% 10–1 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Official statement: April 30, 2008 2.00% 2.25% 8–2 The FOMC cut rates by 25 basis points.
Meeting date. Rate change. Target. January 9, 1991: Conference call-25 basis points. 6.75 percent. February 1, 1991: Conference call-50 basis points. 6.25 percent
The FOMC is the principal organ of United States national monetary policy. The Committee sets monetary policy by specifying the short-term objective for the Fed's open market operations, which is usually a target level for the federal funds rate (the rate that commercial banks charge between themselves for overnight loans).
See Interest Rates Over the Last 100 Years. Find out how history affects today's rates and what it means for you.
The Wall Street Journal Prime Rate (WSJ Prime Rate) is a measure of the U.S. prime rate, defined by The Wall Street Journal (WSJ) as "the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks". It is not the "best" rate offered by banks.
The Federal Reserve held rates steady at its January meeting to take cautious pause follows three cuts in 2024 in the wake of stubborn inflation that rose to 2.9% in December 2024, above the Fed's ...
The Beige Book, more formally called the Summary of Commentary on Current Economic Conditions, is a report published by the United States Federal Reserve Board eight times a year. [1]
The average 30-year fixed-rate mortgage was 3.28 percent when the Fed officially signaled in its December 2021 dot plot that it planned to raise interest rates in the upcoming year.