Mar 29 Powell says the Federal Reserve wants to see 'more good inflation readings' before it can cut rates By Paul Wiseman, Associated Press Forecasters had expected higher rates to send the United States tumbling into recession. Instead, the economy just kept growing — expanding at an annual rate of 2 percent or more for six straight quarters. Continue reading
Mar 20 WATCH: Federal Reserve's Powell holds briefing after interest rate meeting as inflation slows By Christopher Rugaber, Associated Press In new quarterly projections they issued, the policymakers forecast that stronger growth and inflation above their 2 percent target level would persist into next year. As a result, they suggested that interest rates would have to stay slightly higher for… Continue reading
Mar 07 Federal Reserve regulatory proposal criticized by banks, NAACP will be revised by end of year By Christopher Rugaber, Associated Press The banks argue that the proposal would limit their ability to lend and would exceed what is necessary to match the global rules. Continue reading
Mar 06 WATCH: Interest rate cuts likely but more evidence needed that inflation tamed, Powell says By Christopher Rugaber, Associated Press Powell noted that inflation is slowing for both goods and services and did not express concern about the government’s latest inflation data, which showed some pickup in price increases in January. Continue reading
Feb 08 Inflation is nearly back to 2 percent. So why isn't the Federal Reserve ready to cut rates? By Christopher Rugaber, Associated Press Inflation, as measured by its preferred gauge, rose in the second half of 2023 at an annual rate of about 2 percent — the Fed's target level. Continue reading
Jan 31 WATCH: Federal Reserve signals that interest rate cuts aren't imminent and leaves them unchanged for now By Christopher Rugaber, Associated Press The Federal Reserve indicated Wednesday that it’s nearing a long-awaited shift toward cutting interest rates, a sign that its officials have grown confident that they're close to fully taming inflation. But the Fed also signaled that the first rate cut is likely… Continue reading
Jan 29 Economists expect Federal Reserve to cut rates sometime this year as inflation slows By Christopher Rugaber, Associated Press Inflation is getting close to the Fed’s target rate, the economy is still growing at a healthy pace and the unemployment rate is near a half-century low. Most economists say they expect the first rate cut to occur in May… Continue reading
Dec 13 Watch 5:32 Interest rates remain unchanged, but Federal Reserve signals cuts coming in 2024 By Stephanie Sy, Shoshana Dubnow The Federal Reserve opted to leave interest rates unchanged, but Fed Chairman Jerome Powell suggested there may be as many as three rate cuts next year. Powell said rate hikes appear to be over for now and the economy is… Continue watching
Dec 13 Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year By Christopher Rugaber, Associated Press Those envisioned rate cuts — which wouldn't likely begin until the second half of 2024 — suggest that the officials think high borrowing rates will still be needed for much of next year to further slow spending and inflation. Continue reading
Dec 13 WATCH: Federal Reserve Chair Jerome Powell holds news briefing following interest rate meeting By Christopher Rugaber, Associated Press The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year. Continue reading