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The FOMC cut rates by 25 basis points. They drew back on their easing bias somewhat by removing "downside risks to growth remain" from its statement, but left no sign of a future pause to the interest rate cuts. Fisher and Plosser dissented, preferring no change. Official statement: March 18, 2008 2.25% 2.50% 8–2
Credit card rates only down slightly since last Fed cut Just before the Fed announced a 50 basis point rate decrease on Sept. 18, the average credit card rate was 20.78 percent (1 basis point shy ...
That's marks a sharp reversal from September, when the Fed cut rates for the first time since 2020, kicking off what was thought to be an easing cycle that would extend well into 2025.
The national average rate on a 30-year fixed mortgage has been stuck above 7 percent for most of January, rising 86 basis points since the Fed’s first rate cut in September. Future rate cuts ...
As the Fed prepares to cut rates again, ... but these deals probably won’t last long as the Fed continues to cut rates. ... you split it among multiple CDs with different maturity dates. For ...
The Fed hiked the federal funds rate (overnight interest rates) to a two-decade high of 5.33% between Mar. 2022 and Aug. 2023, in order to tame an inflation surge that resulted from pandemic ...
The move means officials have now slashed the Fed’s key benchmark interest rate — the federal funds rate — a full percentage point, bringing the new target rate down to 4.25-4.5 percent.
Thursday’s Fed rate cut reduced its benchmark rate to about 4.6%, down from a four-decade high of 5.3%. The Fed had kept its rate that high for more than a year to fight the worst inflation ...