interest rates

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Fed Hints at Upcoming Rate Hike

But leaves interest rates unchanged for now

(Newser) - The Federal Reserve is leaving interest rates unchanged just days before Americans choose a new president, but hints again that it will likely raise rates at an upcoming meeting, the AP reports. The Fed says that the case for rate hike has "continued to strengthen" but that the panel... More »

Yellen Doesn't Tip Her Hand on Rate Hike

Case is stronger, says Fed chief, without offering timetable

(Newser) - Federal Reserve Chair Janet Yellen said Friday that the case for raising interest rates has strengthened in light of a solid job market and an improved outlook for the US economy and inflation, reports the AP . So does that mean rates are going up? We'll have to stay tuned,... More »

Britain Cuts Rates to Lowest Since 1694

That's when the Bank of England was established

(Newser) - In an attempt to shore up a post- Brexit economy, the Bank of England did something Thursday it hasn't done since 2009: cut interest rates. The rates went from 0.5% to 0.25%, the lowest they've been since the bank's beginnings in 1694, the Atlantic reports.... More »

9 Years, 5 Months, 16 Days Later, Fed Makes Its Move

Janet Yellen and company boost main rate by quarter point

(Newser) - A quarter point. The Fed on Thursday moved to raise interest rates for the first time since June 29, 2006 , and it did so by boosting its key federal funds rate by a modest 0.25%, reports the Wall Street Journal . Fed chief Janet Yellen will lay out the rationale... More »

Even if Fed Acts, Rates May Be Low for Long Time

Here's what to know ahead of the Fed meeting this week

(Newser) - Janet Yellen and the Fed are expected to raise interest rates for the first time in nine years later this week, probably by a quarter-point, reports USA Today . Some things to know:
  • Even if the Fed acts, rates might well remain relatively low for years, despite some alarming predictions to
... More »

Fed Leaves Rates Unchanged

Janet Yellen keeps historic lows in place

(Newser) - No rate hike: The Federal Reserve has held off on raising interest rates amid a shaky world economy. Janet Yellen's group cited "global economic and financial developments" to explain the decision, which mostly means the turmoil in China, reports MarketWatch . Fed policymakers now see just one rate hike... More »

Clinton Wants to Throw $350B at Making College Free, Cheap

Candidate's plan would make community college free, 4-year college 'no loan'

(Newser) - As student debt balloons into an issue in the realms of predatory lending , borrowers' mental health , and even the elderly , politicians continue to brainstorm on making college more affordable. Hillary Clinton's solution: a $350 billion proposal whose goals include making community college free, cutting costs to attend four-year public... More »

Fed Leaves Interest Rates Unchanged

But most expect that to change later this year

(Newser) - The Federal Reserve says the economy has strengthened since a slump early this year but wants to see further gains in the job market and higher inflation before raising interest rates from record lows. The Fed is giving no timetable for a rate hike but says it expects the economy'... More »

Fed Drops Word 'Patient,' Still Soothes Investors

Moves closer to a rate increase, but suggests it's not imminent

(Newser) - The Federal Reserve continued its slow dance with Wall Street today about when it will finally raise interest rates, and the bottom line is June at the earliest, reports the Wall Street Journal . However, if jobs and inflation aren't hitting their targets at that point, the Fed would likely... More »

Interest Rates Won't Be Rising Anytime Soon

Fed wraps up meeting, cuts growth forecast

(Newser) - The Federal Reserve has sharply cut its forecast for US growth this year, reflecting a shrinking economy last quarter caused mostly by harsh weather. At the same time, the Fed has barely increased its estimate of inflation despite signs that consumer price increases are picking up. Its benign inflation outlook... More »

Europe Tries a Radical Way to Prod Banks

ECB introduces negative interest rates

(Newser) - The European Central Bank today announced that it's giving its banks a kick in the rear to get them to start lending again, by dropping its deposit interest rate to -0.1%. Yes, that's a minus sign—meaning that instead of giving banks interest for holding onto extra... More »

Janet Yellen Makes Rookie Mistake in Fed Debut

Her 'around 6 months' comment was way too specific, say observers

(Newser) - Janet Yellen is getting a lot of grief over her first news conference as leader of the Federal Reserve for, of all things, speaking too clearly. As Rex Nutting at MarketWatch observes, Yellen spoke for an hour yesterday, "but the market only heard three words: 'around six months.... More »

At 265 Colleges, Loan Default More Likely Than Graduation

Plus: Stafford loan interest rates double

(Newser) - Bad news if you're planning to attend Texas College in the fall: You've got a 38.2% chance of defaulting on your student loans ... and just a 12% chance of graduating. USA Today found 265 colleges and universities across 40 states where the loan default rate is higher... More »

Bernanke Taking Big Gamble on Policy

Lower dollar stimulates economy but risks trade wars: Allan Sloan

(Newser) - Ben Bernanke's push to keep interest rates low might be stimulating the US economy, but it's also raising the risk of currency wars, writes Allan Sloan at Fortune . "Cutting interest rates faster and more deeply than most other central banks has weakened the dollar against the currencies... More »

'Free' Checking Accounts: Not So Free Anymore

Plus, credit card companies not passing on low interest rates

(Newser) - Free checking accounts were the norm in the 1990s, but not so anymore: Today just 39% of noninterest checking accounts are free to everyone, down from 76% in 2009 and 45% last year, a new Bankrate survey finds. Some banks are doing away with free checking accounts entirely; some are... More »

Let's Spend Like Reagan

Krugman: He was a bigger spender than Obama in first years

(Newser) - At this point in his presidency, Ronald Reagan was presiding over a strong recovery, and President Obama clearly is not. The biggest difference? Government spending, writes Paul Krugman in the New York Times . Real per-capita government spending is up 6.4% under Obama, but under Reagan it soared 14.4%.... More »

Trying to Refinance? Take a Number

With fewer banks, mortgage refinancing taking forver

(Newser) - Mortgage rates have been plummeting—they were at just 4.05% last month—and that, combined with Obama administration initiatives, has a lot of homeowners clamoring to refinance. There's just one problem: A lot of homeowners are clamoring to refinance. The financial crisis left fewer banks standing in the... More »

Bernanke: Full Recovery Years Away

Fed says inflation on target, but unemployment high, growth sluggish

(Newser) - Don't get too excited about that pending economic rebound . The Federal Reserve's announcement it will keep interest rates super-low into 2014 is a key sign that the US economy is years away from truly recovering, reports the New York Times . Yes, the economy has picked up "moderately,... More »

What's Up With Ron Paul's 'Austrian' Ideas?

Republican candidate trumpets strict libertarian philosophy

(Newser) - Just what did Ron Paul mean when he finished third in Iowa and said, "We are all Austrians now"? Republican candidates don't often celebrate European economic policies, but this is different, Matthew Yglesias writes in Slate . Those familiar with the inside baseball of libertarianism know that Paul... More »

Fed Panel Split Over Bernanke's Low Rates Policy

It's the most a chairman has faced in 19 years

(Newser) - Ben Bernanke's Tuesday announcement that the Fed is prepared to keep short-term interest rates close to zero for at least two more years is facing internal revolt from the Federal Open Market Committee, the 12-member committee of Fed presidents and governors that sets monetary policy, reports the Wall Street ... More »

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