President Trump advocated for the central bank to reduce interest rates now that inflation has stopped. President Donald Trump and Federal Reserve Chair Jerome Powell met in person…
Read MoreInterest Rates
Federal Reserve Leaves Interest Rates Unchanged
Chair says that inflation and unemployment risk have risen, but more observation is needed. The Federal Reserve decided to keep interest rates at a range of 4.25 percent…
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Labor Department Reports Consumer Prices Dropped in March
Falling gas and used car prices ease inflation. The Department of Labor reported that U.S. consumer prices declined slightly in March for the first time since 2020. The…
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Senators Introduce Bill to Cap Credit Card Interest
Senators Hawley and Sanders seek to limit credit card interest rates to 10 percent. Senators Josh Hawley of Missouri and Bernie Sanders of Vermont jointly introduced a bill…
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Federal Reserve Holds Interest Rates at 4.25 to 4.5 Percent Range
Chairman Powell holds steady as President Trump calls for steeper cuts. The Federal Reserve chose to hold banking interest rates steady at a range of 4.25 to 4.5…
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CFPB Sues Capital One for Cheating Customers Out of $2 Billion in Interest
The bureau alleges the company published misleading communications about new savings accounts. The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against the bank Capital One for…
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Federal Chief Economists Respond to Mortgage Rates Increasing
The housing market continues to experience challenges. The Federal Home Loan Mortgage Corporation (Freddie Mac) reported that the average rate for a 30-year-fixed-rate mortgage neared 7 percent this…
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Federal Reserve Cuts Interest Rates
It is the second consecutive rate cut since inflation has begun to flatten. The Federal Reserve met for its final meeting of 2024, opting to reduce banking interest…
Read MoreFederal Reserve Board Cuts Prime Rate 50 Basis Points
The central bank was motivated by the change in the employment rate, among other factors. The Federal Reserve cut interest rates by half a point on Wednesday, an…
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Labor Department Documents Mixed Inflation Cues in August Report
The department also released employment numbers, which missed projections. In its monthly inflation report released Wednesday, the Department of Labor found that the consumer price index increased 0.2…
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