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Investors seem certain about this: The Federal Reserve is going to raise interest rates this week for the third time this year.
It will be Powell’s Fed. Assuming he’s confirmed by the Senate, Jerome (“Jay”) Powell will become the 16th chairman of the Federal Reserve Board in early 2018. Almost by definition, he instantly becomes the most important economic policy-maker in the world. But who is he? Outside economic circles, hardly anyone knows.
The nation’s business economists believe that the Federal Reserve’s long-awaited move to start reducing its massive bond holdings will push long-term bond rates higher but most think the impact will be fairly modest.
It’s hard to imagine President Trump reappointing her if she can’t navigate the Fed through the approaching shoals.
The Federal Reserve is keeping its benchmark interest rate unchanged at a time of low inflation, which remains persistently below the Fed’s target level.
The Federal Reserve has already achieved one of its two mandates: With the unemployment rate at just 4.4 percent, the Fed has essentially maximized employment.
Despite low inflation and a lot of uncertainties in the economic outlook, Federal Reserve Chair Janet Yellen said Wednesday she sees the need for the central bank to keep making gradual interest rate increases in the next few years.
The Federal Reserve said Friday it expects the U.S. economy will strengthen and warrant further gradual increases in its key interest rate.
Long-term U.S. mortgage rates rose this week to highest level since mid-May.
Long-term U.S. mortgage rates were unchanged to lower this week, as the benchmark 30-year rate reached a new low for the year.
Long-term U.S. mortgage rates dropped slightly this week.
Long-term U.S. mortgage rates edged up this week as the benchmark 30-year rate bounced back from a seven-month low.
The Federal Reserve has raised its benchmark interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy. The Fed also announced plans to start gradually paring its bond holdings later this year, which could cause long-term rates to rise.
The Washington political world is in disarray. Britain’s election tumult has scrambled the outlook for Europe. And economies in the United States and abroad are plodding along at a pace that hardly suggests robust health.
U.S. employers pulled back on hiring in May by adding only 138,000 jobs. Hiring was still enough to help keep pushing unemployment lower.
The central bank is watching for evidence that a recent slowdown in the economy is temporary and that inflation is heating up toward its goal before committing to another interest rate hike, minutes from the Federal Reserve’s May 2-3 meeting showed.
The Bank of England decided Thursday to keep its main interest rate at a record low of 0.25 percent as the economy weakens ahead of Britain’s departure from the European Union.
Mortgage rates wandered higher again this week after a brief slip but remain within a narrow band.
Long-term U.S. mortgage rates barely moved this week after rising last week for the first time in five weeks. The benchmark 30-year rate remained above the key threshold of 4 percent.
The Federal Reserve has left interest rates unchanged while signaling that it expects a resilient U.S. economy and solid job market to justify further rate hikes later this year.