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Today’s the day: The Federal Reserve is about to announce what it decided to do with interest rates at its November meeting. We already know what the Fed is likely to do: Cut interest rates by a ...
Fed Chair Jerome Powell is taking questions from journalists after the central bank held interest rates steady following three consecutive cuts at the end of 2024.
The Fed cut rates by half a point in September, marking the central bank’s first rate-reduction during a 2 1/2 year battle against inflation in the wake of the COVID-19 pandemic.
The Fed cut its federal funds rate — the interest rate banks charge each other for short-term loans — by 0.25 percentage points, lowered the rate to a range of 4.25% to 4.5%, down from its ...
Powell, who is expected to serve out the rest of his term, indicated late last year that the Fed will likely reduce rates more slowly in 2025 amid a “new phase.” While 2024 saw…
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 ...
That was the big debate among economists ahead of Wednesday's announcement, with some predicting that the Fed would shave its benchmark rate by 0.25 percentage points — the Fed's standard ...
Despite the Fed's September cut, mortgage rates have increased over the last month, with the average interest rate on a 30-year fixed-rate loan sitting at about 6.72%, according to Freddie Mac ...