Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.
The president-elect campaigned on a promise to make homeownership more affordable by lowering mortgage rates, but his policies could do the opposite, some analysts say.
Wall Street is already making big bets on what take two for a White House led by Donald Trump will mean for the economy.
Between mixed economic signals and president-elect Donald Trump’s statements that he wants greater control over interest rate policy, it’s up in the air what happens next.
The president-elect outlined a wide-ranging agenda on the campaign trail that blends traditional conservative approaches to taxes, regulation and cultural issues with a more populist bent on trade.
No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
Mortgage rates have been climbing in recent weeks following a spate of encouraging reports on the U.S. economy, including a hotter-than-expected September jobs report and a snapshot of consumer prices.
A subway train that derailed near Boston earlier this month had entered a 10 mph zone traveling at 36 mph, according to an initial report from the National Transportation Safety Board released Wednesday.
JPMorgan CEO Jamie Dimon cited geopolitical tensions that he called “treacherous and getting worse” during the bank’s Q3 earnings presentation.
While Americans continue to struggle under unrelentingly high rents, as many as 223,000 affordable housing units across the U.S. could be yanked out from under them in the next five years alone.
Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy.
U.S. ports from Maine to Texas shut down Tuesday when the union representing about 45,000 dockworkers went on strike for the first time since 1977.
Amazon is reverting to its pre-pandemic policy and will require corporate employees to be in the office five days a week starting next year, CEO Andy Jassy said Monday.
Plenty of uncertainty still surrounds this week’s Fed meeting. How much will the policymakers decide to reduce their benchmark rate, now at 5.3 percent? By a traditional quarter-point or by an unusually large half-point?
The Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate.
Hiring by America’s employers picked up a bit in August from July’s tepid pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.
Some 10,000 hotel workers represented by the UNITE HERE union walked off the job Sunday at 24 hotels in eight cities, including Boston, demanding higher wages and a reversal of service and staffing cuts.
The lawsuit, filed alongside attorneys general in states including North Carolina and California, alleges the company is violating antitrust laws through its algorithm that landlords use to get recommended rental prices for apartments.
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.
The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”
