Rate Unchanged Again
Fed Chair Jerome Powell left its key interest rate unchanged again Wednesday May 7th and gave no hint of plans to lower the interest rate anytime soon, as tariffs raise the risks of either another inflation spike or recession. The central bank lowered the rate by a...
The central bank may act more aggressively than originally expected after Trump’s bombshell tariff announcement
Expectations for a flurry of Federal Reserve interest rate cuts this year spiked as financial markets reeled in the wake of President Trump’s wave of global tariffs. The central bank is now expected by money markets to slash its key rate by 100 basis points before the...
Mass Layoffs Hit Consumer Financial Protection Bureau
The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The full scope of the cuts was not immediately clear, but by late afternoon, hundreds of workers across all of the agency’s major...
Fed’s Powell sounds the alarm on potential Trump tariff shock
Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut as those risks grow. The Fed chief described the extent of Trump’s...
The Fed is backed into a corner
Its dual mandate is low unemployment and inflation, two often competing goals. Raising interest rates can slow inflation but increase job losses, while cutting interest rates can increase hiring but risk faster inflation. A potential rock-hard-place moment for the Fed...
Mortgage and refinance rates today, February 24, 2025: Fixed rates decrease
Mortgage interest rates have inched down for the most part. According to Zillow, the 30-year fixed rate has decreased by four basis points to 6.50%, and the 15-year fixed rate is down by four basis points to 5.83%. Rates are inching up and down sporadically, but there...
US inflation picks up pace, lowers chance of Fed cut
US inflation rose in January, strengthening the Federal Reserve’s case to keep interest rates on hold despite President Trump’s fresh demands for rate cuts. The consumer price index posted its biggest increase since August 2023, government data released Wednesday...
HUD’s workforce on the chopping block: Half of the department’s 9,600 employees may be fired.
The U.S Department of Housing and Urban Development (HUD) plans to eliminate up to 50% of its 9,600 employees in the latest round of job cuts for federal agencies. The General Services Administration (GSA) is also facing a possible 50% reduction in its workforce, as...
Consumer Financial Protection Bureau in disarray as work ceases, offices closed, key staff resign
Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues. Department of Government Efficiency (DOGE) head Elon Musk, who has...
The Fed cut the rate by .5% in September. What now?
Do they continue to cut the rates? Do they pause? It could go either way. The Federal Reserve on Wednesday September 18th enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort...