Will the Federal Reserve cut interest rates as early as March 2024? Investors certainly think so. Fed Chair Jerome Powell and his colleagues have insisted that it is premature to discuss cutting rates, arguing that policy needs to be in restrictive territory for longer. But the financial markets don’t believe it for one second. Despite […]
Interest Rates
Freddie Mac: 30-year fixed-rate mortgage average approaching 8%
Why would anyone bother selling their home if they acquired the residential property with a 2.89 percent mortgage rate? Have you seen mortgage rates these days? Last week, they hit 7.49 percent, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Other gauges were higher, but this is the standard market observers watch. Add the […]
WATCH: Fed Chair Jerome Powell’s post-FOMC policy meeting press conference
You can watch Federal Reserve Chair Jerome Powell’s post-Federal Open Market Committee policy meeting press conference here:
The Federal Reserve’s Summary of Economic Projections
The Federal Reserve voted to leave interest rates unchanged at a 22-year high of 5.25 percent and 5.5 percent. But the central bank indicated one more rate hike before the year is finished. Here is a look at changes made in the September Summary of Economic Projections (SEP):
Read full FOMC statement as Federal Reserve raises interest rates to highest level since March 2001
The Federal Reserve raised interest rates to their highest levels since 2001. Officials pulled the trigger on a quarter-point increase, lifting the benchmark fed funds rate to 5.25 percent and 5.50 percent. Here is the full Federal Open Market Committee (FOMC) statement: Recent indicators suggest that economic activity has been expanding at a moderate pace. […]