The Federal Reserve ended its streak of 10 consecutive interest rate hikes on Wednesday and decided to keep rates steady. Even so, consumers may not feel celebratory as they reel from the earlier aggressive rate increases. Any pause should be...
I bonds are no longer the darling of investors now that the Federal Reserve has raised interest rates 10 times in a row to cool inflation. Interest rates on I bonds, which are set twice a year on May 1...
Consumer prices rose at the slowest pace since April 2021 as inflation showed further signs of cooling in May, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) revealed headline...
The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis. Treasury Secretary Janet L. Yellen reiterated on Monday that the United States could run out of...
Debt-ceiling negotiators appear to be making progress on two wonky topics that could be crucial to a final deal even as the House Speaker said the two sides are still far apart. The glimmers of possible compromise in the weeks...
In March, 15 companies rated by Moody's defaulted on their debt, bringing up the first quarter total to 33. That's the highest level since the last quarter of 2020, when 47 companies defaulted on their debt. The ratings giant expects...
The Federal Reserve raised interest rates for the 10th consecutive time on Wednesday, as expected, but suggested it may pause its aggressive fight against inflation. Even so, any halt may not feel like much relief to consumers who’ve suffered through...
If politicians don’t listen to the CEOs and economists telling them to hurry up and resolve the debt-ceiling crisis, a more formidable master may intervene: the stock market. Business leaders attending this year’s Milken Institute Global Conference in Beverly Hills,...
Here’s the good news. After its most aggressive interest rate hikes in 40 years, the Federal Reserve on Wednesday is expected to approve a final quarter-point increase and signal a long-awaited pause, economists say. The prospect of rate increases ending...
The net deposit outflow would have topped $100 billion in the first quarter if not for a rescue from 11 of the nation's largest banks First Republic (FRC) said Monday it lost a net total of $72 billion in deposits...
U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government's debt ceiling – and the resulting default – would trigger an "economic catastrophe" that would send interest rates higher for years to come. Yellen,...
With online savings accounts and money market funds offering attractive returns for the first time in years, some investors may be considering increasing the cash holdings in their portfolios. Stock market returns have been volatile over the past year and...
U.S. banks lost money on mortgages as prospective homebuyers – tired of battling high mortgage rates and still-rising home prices – backed out of the housing market. Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 on each...
The Federal Reserve has raised interest rates aggressively over the last year in a bid to slow inflation and the labor market. Its efforts are still not quite feeding through to the data. Friday's March jobs report is the latest...
Inflation has slowed and gross domestic product has revived , but most economists still expect a mild recession this year. In December, consumer prices rose 6.5% from a year earlier but that was down from a 40-year high of 9.1%...
