The Federal Reserve raised the target federal funds rate by 0.75 percentage point for the fourth time in a row on Wednesday, marking an unprecedented pace of rate hikes. The U.S. central bank has raised the benchmark short-term borrowing rate a total of six times this year, including 75 basis pointContinue Reading
(Bloomberg) — Was it good or bad this week when Alphabet Inc. told investors that advertising demand that helped swell its top line 50% in two years is starting to soften? Depends on what you mean by bad, and rarely has an argument over definitions meant more for markets andContinue Reading
(Bloomberg) — Federal Reserve Bank of St. Louis President James Bullard left open the possibility that the central bank would raise interest rates by 75 basis points at each of its next two meetings in November and December, while saying it was too soon to make that call. Most ReadContinue Reading
(Bloomberg) — Inflation shows few signs of cooling in the economy. The same cannot be said of markets, which are starting to seem like the only thing the Federal Reserve has going for it these days. Most Read from Bloomberg Even with Thursday’s big bounce, the S&P 500 has lostContinue Reading
The stock markets’ (SPY) plummet is continuing at an accelerated pace following the FOMC, where the main message seems to be that 75 basis points rate hikes are the new status quo until inflation materially declines. Given August’s CPI saw an acceleration in monthly core CPI, we are far fromContinue Reading
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate hike, according to Mortgage News Daily. TheContinue Reading
1. Credit cards Kena Betancur | VIEW press | Corbis News | Getty Images Since most credit cards have a variable rate, as opposed to a locked-in fixed rate, there’s a direct connection to the Fed’s benchmark. As the federal funds rate rises, the prime rate does, as well, and your annual percentageContinue Reading
(Bloomberg) — Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said. Most Read from Bloomberg They expect the Federal Open Market Committee to lift rates by a halfContinue Reading
To keep up with the surging cost of living, consumers are spending more and saving less — and rising interest rates aren’t helping the matter. Next week, the Federal Reserve likely will raise rates by another three-quarters of a percentage point, although some on Wall Street still think it could opt forContinue Reading
In a matter of months, it’s become more expensive to carry a credit card balance, a car loan or a mortgage as the Federal Reserve’s interest rate hikes have seeped into borrowing costs. It’s tough medicine that central bankers hope will break the fever of hot inflation — and noContinue Reading