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.]]>
The Federal Reserve held interest rates steady Wednesday, as inflation remained stubbornly above the Fed's 2% target. Investors now think it could be September or later before rates start to fall.
As the Fed's policy-setting committee gathers for a two-day meeting
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,...
The central bank said that economic activity had continued to expand ‘at a solid pace’ but there had been a ‘lack of further progress’ towards its inflation objective
Office Market Availability Rate Hits Record High In San Francisco Authored by Travis Gillmore via The Epoch Times, A confluence of factors continues to impact San Francisco’s office market, with vacancy and availability rates reaching record highs in the first quarter of 2024, according to commercial real estate analysts at global companies Avison Young and CBRE. Availability - the combination of vacancy and sublease opportunities in the market - reached 36.7 percent of all...
Expect to pay more for mortgages and credit card interest through at least the end of 2024.
The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target. The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a two-decade high of 5.3%. Several hotter-than-expected reports on prices and economic growth have recently undercut the Fed’s belief that...
Even borrowing money is more expensive these days — and the Federal Reserve might decide to keep it that way for a while. All eyes are on the Fed’s May meeting today, where Fed chair Jerome Powell will make an announcement about interest rates. Though analysts do not expect the Fed to cut rates just yet, some had projected a cut might be coming soon. That now appears increasingly unlikely. Instead, his remarks are expected to shed light on how much longer the US economy will have to endure high...
Since the start of the year, central bankers' best hopes to take pressure
Biden Calls For Record High 44.6% Capital Gains Tax Rate By John Kartch of Americans For Tax Reform President Biden has formally proposed the highest top capital gains tax in over 100 years. Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.” Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%. Under the...
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.