Federal Reserve Bank of New York President John Williams said the central bank will likely start lowering interest rates this year if inflation continues to gradually come down.
The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November of last year. Rates hit their highest level in a few decades last October, causing home sales to grind to a halt. Builders jumped to buy down rates for their customers and managed to do better than existing home sellers. Rates then fell through mid-January to the mid-6% range and held there...
The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News Daily.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s […]
Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates
WASHINGTON (AP) — 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
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. In a speech, Jefferson said he expects inflation to continue to slow this year. But he omitted a reference to the likelihood of future rate […]
US central banker says ‘recent data have clearly not given us greater confidence’ that inflation coming fully under controlThe Federal Reserve chair, Jerome Powell, cautioned on Tuesday that persistently elevated inflation will probably delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.“Recent data have clearly not given us greater confidence” that inflation is coming fully under control and “instead indicate that it’s likely to take...
Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence” that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion. “If higher inflation does persist,” he said, “we can...
In addition, the Energy Department has tentatively agreed to provide up to $331 million to an LS Power transmission project that could help create a new transmission pathway in the West and deliver wind from Idaho to California.
The words “Revolution is Tradition” stenciled in fresh blue and red paint mark a cement wall in a dry river wash beneath a remote southern Nevada freeway overpass, where armed protesters and federal agents stared each other down through rifle sights 10 years ago.
BUNKERVILLE, Nev. (AP) — The words “Revolution is Tradition” stenciled in fresh blue and red paint mark a cement wall in a dry river wash beneath a remote southern Nevada freeway overpass, where armed protesters and federal agents stared each other down through rifle sights 10 years ago. It was just before noon on a […]