Higher U.S. rates are rattling many emerging markets in much the same way past tightening cycles did, but the Federal Reserve's hawkishness could also bring cheer for a small group of Asian economies that wouldn't mind seeing their currencies weaken.
When you hear the Fed increased interest rates, do you think the 30-year mortgage rate is being increased by the same amount? See a graph of the relationship of the federal funds rate to the 30-year fixed-rate mortgage interest rate.
Hong Kong's de facto central bank tracked the US Federal Reserve in lifting interest rates again on Thursday, but analysts said homeowners in the city's red-hot property market would be cushioned from the impact for now. The US central bank on Wednesday lifted borrowing costs, as expected, but indicated another two this year and four in 2019 as the world's top economy continues to improve an
• The Federal Reserve hiked interest rates to a range between 1.75% and 2% on Wednesday. • In response, banks across the US raised their prime lending rate to 5% from 4.75%. • This will affect the rates for credit cards and other nonmortgage loans. The Federal Reserve on Wednesday lifted its fed funds rate by 25 basis points to a range between 1.75% and 2%, and signaled two more hikes were coming this year. • Wells Fargo • KeyCorp • Citibank • Bank of America • M&T Bank • PNC Bank • US Bancorp • SunTrust • BB&T • Webster Bank • Citizens Financial • BMO Harris Bank • Deutsche Bank • Fifth-Third Bank Read more...
The Federal Reserve announced on Wednesday that it had opted to raise interest rates for the second time this year, as Chairman Jerome Powell praised the nation's economic health in a post-decision press conference. The Federal Open Market Committee voted to increase the target range for the federal funds rate from 1.75% to 2%, the seventh hike since late 2015. The Fed also announced that it expects there to be two more rate hikes before the end of this year -- one more hike than its March estimate. Aside from rising economic activity, Powell and the FOMC touted the nation's declining unemployment rate, growing household spending and increased business investment. Additionally, in the past year, overall inflation has moved close to 2%, according to the FOMC. "Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability," the FOMC said in a statement. "The Committee expects that further gradual increases in the target range for the federal funds rate will be ...
The Federal Reserve has hiked the interest rate to 2% as there could be at least two more increases by the end of the year. Brendan Greeley joins Stephanie Ruhle to discuss The Fed's latest move when the economy is so strong. Read more
The Federal Reserve says a "resilient economy" is one reason why it's raising a key interest rate for the second time this year. The central bank increased the short-term rate a quarter point on Wednesday to a range of 1.75 to 2 percent. The Fed also predicts four rate hikes this year after an earlier forecast of three. CBS New business analyst Jill Schlesinger joins "CBS This Morning" to discuss what this means for you.