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The wait is over. After more than a year of will-they-or-won’t-they, the Federal Reserve on Sept. 18 announced the first cut to its benchmark federal funds rate since the early days of the COVID ...
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
Some of those rates, notably mortgages, have fallen quite a bit as the Fed has telegraphed its intentions for rate cuts: The average 30-year fixed rate mortgage recently fell to 6.20%, according ...
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 ...
The cut, likely to be announced Wednesday afternoon, is seen as between one-fourth and one-half of 1 percentage point. The Fed began increasing its target rate as the pace of inflation began to ...
The Federal Reserve went big with its first interest rate cut since March of 2020. The Fed announced a half-point cut in the federal funds rate, dropping to 4.875%, down from a 23-year high of 5.50%.
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 ...
The Federal Reserve on Wednesday announced its third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for ...