Powell: Elevated Inflation Will Likely Delay Rate Cuts
“If higher inflation does persist,” he said, “we can maintain the current level of [interest rates] for as long as needed.”
Top Fed Official Opens Door to Keeping Rates High for Longer
Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
Big Banks Issue Mixed Profit Reports as JPMorgan Flags ‘Uncertain’ 2024
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
March Inflation Reading Means ‘Bad News’ for Mortgage Rates
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year
When Will Fed Cut Rates? As Economy Flexes Muscles, Maybe Never
The Fed typically cuts only when the economy appears to be weakening and needs help. But with economic data looking strong – the commercial real estate sector aside – will its policymakers see a need to even cut at all?
Jamie Dimon Warns of Potential Interest Rate Spike
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
Another Month of Robust Job Growth Points to Continued Economic Strength
America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Powell Still Sees Room for Rate Cuts in 2024
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up recently.
Compass Pays $57.5M to Join Commission Suit Settlement
Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions, the company said in a regulatory filing Friday.
Fed Still Sees Three Rate Cuts in ’24, Fewer Next Year
In new quarterly projections they issued, Fed officials forecast that stronger growth and stubborn inflation would persist this year and next, meaning the central bank’s benchmark interest rate will stay higher for longer.
Powell May Hint at Rate Cuts Today
Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably down. It was a tantalizing suggestion.
Fed Likely to Preach Patience on Rate Cuts
Across the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Wall Street traders envision higher stock prices. Housing developers looking to get shovels in the ground.
Why Are So Many Voters Frustrated by the Economy? It’s Home Prices
At the root of this problem: America failed to build enough homes for its growing population. The shortage strikes at the heart of the American dream of homeownership – dampening President Joe Biden’s assurances that the U.S. economy is strong.
Powell Waves White Flag on Basel III
A sweeping bank regulatory proposal will be significantly revised by year’s end, Federal Reserve Chair Jerome Powell said Thursday, a potential victory for the large banks that have aggressively opposed the likely changes.
Powell: Rate Cuts Still Likely, but More Evidence Needed that Inflation’s Tamed
Chair Jerome Powell reinforced his belief Wednesday that the Federal Reserve will cut its key interest rate this year but that it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2 percent target.
CFPB Seeks $8 Credit Card Late Fee Cap
The Biden administration announced a rule Tuesday to cap all credit card late fees, the latest effort in the White House push to end what it has called “junk fees” and a move that regulators say will save Americans up to $10 billion a year.
Fewer Banks Tightening Lending Standards, Raising Hopes
Fewer banks tightened lending standards as 2023 came to a close, a hopeful sign for businesses that broader loan access is on the horizon.
Macy’s to Close 150 Stores as Sales Slip and It Pivots to Luxury
Macy’s will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales.
What Recession? Professional Forecasters Raise Expectations for 2024
This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday.
Fed Officials Caution Against Cutting Interest Rates Too Soon or Too Much
Several Federal Reserve policymakers warned Thursday against cutting U.S. interest rates too soon or by too much in the wake of recent data showing inflation stayed unexpectedly high in January.
