Aug 19 'Many' Fed officials think higher rates will be needed if inflation stays high By Christopher Rugaber, Associated Press Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn't subside, minutes of the Fed's meeting last month showed. Continue reading
Aug 11 Watch 7:09 Credit card debt surges in U.S. as high interest rates make it harder to pay off By Paul Solman, Ryan Connelly Holmes Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics… Continue watching
Jul 29 WATCH: Fed chair Warsh holds news conference after leaving interest rate unchanged By Paul Wiseman, Associated Press The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation and a spike in energy prices caused by the Iran war. Continue reading
Jun 17 Watch 6:51 What Warsh's first meeting as Fed chair signals By Amna Nawaz, Azhar Merchant, Nana Adwoa Antwi-Boasiako The Federal Reserve held interest rates steady in the first meeting led by Kevin Warsh. The decision to maintain rates for a fourth-straight meeting was supported by all 12 members of the Federal Open Market Committee, but new quarterly projections… Continue watching
Jun 17 WATCH: New Fed chair Kevin Warsh holds first news conference after leaving interest rate unchanged By Christopher Rugaber, Associated Press The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank’s policymakers said they could support a rate hike later this year. Continue reading
Apr 28 WATCH: Powell says he plans to stay at Fed after chair term ends amid legal attacks by the Trump administration By Christopher Rugaber, Associated Press “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Jerome Powell said in fairly candid remarks at a press conference after the Fed announced its decision to keep its… Continue reading
Apr 06 Top Fed official sees potential rate hike amid higher gas prices, inflation concerns By Christopher Rugaber, Associated Press A top Federal Reserve official said Monday that an interest rate hike could be appropriate if inflation remains persistently above the central bank's 2% target, the latest sign that some policymakers are moving away from a bias toward reducing borrowing costs. Continue reading
Mar 24 Chances of Fed cutting interest rates fade as inflation worsens By Christopher Rugaber, Associated Press With inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading. Continue reading
Mar 19 Average U.S. long-term mortgage rate rises to 6.22%, highest in more than 3 months By Alex Veiga, Associated Press When mortgage rates rise, they can add hundreds of dollars a month in costs for home shoppers, limiting what they can afford to buy. Continue reading
Mar 18 WATCH: Fed Chair Powell holds news briefing after interest rate left unchanged By Christopher Rugaber, Associated Press Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on growth, but they still expect to cut their key rate once in 2026. Continue reading