Moody's analyst: Fed made mistake but won't cut rates until September
Moody’s Ratings chief economist Mark Zandi said Monday that the Federal Reserve “clearly” made a mistake by not cutting interest rates but would probably wait until its September meeting to act. “They clearly made a mistake,” Zandi said in an interview with CNN’s Jim Acosta, “and I think that’s now obvious to everybody, including them, […]
Fed will ‘fix’ the US economy if it deteriorates, Goolsbee says
Jeff Sica of Circle Squared Alternative Investments weighed in on the market sell-off, arguing that the problem lies in the credit markets. Chicago Fed President Austen Goolsbee said Monday that central bank policymakers will respond to the weakness in the economy. U.S. Economy Fears of a recession resurfaced, leading to widespread selling across the market. […]
Calls grow for emergency interest rate cut by Fed
Federal Reserve Chairman Jerome Powell has been urged to step in and cut interest rates as soon as this week to ease investor fears about a possible recession following last week’s disappointing jobs report and Monday’s big stock market sell-off. The Dow Jones Industrial Average and the Nasdaq both fell more than 1,000 points at […]
Elon Musk says Fed ‘foolish’ for not cutting interest rates yet
Billionaire Elon Musk said Sunday that the Federal Reserve was “foolish” for not cutting interest rates sooner following a disappointing jobs report that raised concerns about an economic slowdown. “The Fed needs to lower interest rates,” Musk said in a post on his X account. “They’re stupid for not lowering rates before now.” Musk’s comments […]
Simone Biles fed up with this Olympics question: ‘Really gotta stop’
Simone Biles wants to put an end to the dreaded question for Olympic medallists. Biles, who won another gold medal in the vault final on Saturday to become the most decorated American gymnast in Paris Olympic history, took to social media to express her distaste for the question, “What’s next?” “After winning an Olympic medal, […]
Stocks, recession, Fed, jobs, Boeing, Chevron
“The Craman Countdown” panelists Thomas Hayes and Nick Timilaos assess the current state of the U.S. economy. Weak job growth, manufacturing data send stocks plummeting Dow and S&P 500 fall sharply for the week, Nasdaq headed for correction Recession forecaster lights up, spooking Wall Street Fed Chairman Jerome Powell raises hopes for September rate cut […]
Mortgage rates drop to new low as Fed grows closer to slashing interest rates: Freddie Mac
Mortgage rates fell again this week to their lowest levels since February, according to Freddie Mac. (iStock) Mortgage rates fell again this week to their lowest since February on expectations that the Federal Reserve will cut rates by 25 basis points in September, according to Freddie Mac. According to Freddie Mac’s latest report, the average […]
Mortgage rates unlikely to fall significantly, even if the Fed cuts interest rates
Ally McCartney, managing director at UBS Private Wealth Management, explains on “Making Money” how the Fed’s message could affect markets. of Federal Reserve The Fed laid out the rationale for a September interest rate cut at the end of its two-day meeting on Wednesday, but the long-awaited cut may provide little relief to Americans struggling […]
Higher rates to linger, Fed may make cuts in September
Market expectations are for two interest rate cuts by the end of the year. (iStock) The Federal Reserve announced on Wednesday that it plans to keep the federal funds rate in a range of 5.25% to 5.5%, where it has been since last July. Fed Chairman Jerome Powell told reporters: The central bank is increasingly […]
Powell: Fed could cut rates 'as soon as' September if inflation, job market keep cooling
Federal Reserve Chairman Jerome Powell said Wednesday that the central bank could cut interest rates “as early as” September if inflation and the job market continue to cool. After the Fed announced it would keep interest rates steady on Wednesday, Powell said it needed to see a combination of generally healthy economic data, along with […]