Since the start of the year, central bankers' best hopes to take pressure
Some analysts on Wall Street think Powell will say rate hikes aren't the base case but will depend on economic data and can't be ruled out.
As the Fed's policy-setting committee gathers for a two-day meeting
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo, which paid almost $594 million more in fees to depositors […]
Ever since mortgage interest rates jumped in 2022, some Californians have had a strategy: Buy now and, once rates drop, refinance to save hundreds of dollars each month. The idea — pushed by some real estate agents — was supposed to be a trade-off. The buyer could pick up a home in a slower market, and though interest costs would be high, they wouldn’t stay that way. The strategy may still work, but so far, high borrowing costs are here to stay. In recent weeks, rates have climbed higher,...
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Powell likely to signal that lower inflation is needed before Fed would cut rates
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year. The big question, after they end their latest policy meeting Wednesday, will be: Will they still signal rate cuts at all this year? Wall
After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year
Compared to the Japanese yen, the dollar has strengthened by almost 16% this year. Japan and South Korea aren’t happy about the currency gap.
The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic.
Interest rate cuts are still “some way off”, the Bank of England’s chief economist has warned, as hopes for rapidly falling borrowing costs around the world fade.]]>