The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond. With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep the benchmark overnight borrowing rate … Read more
The U.S. economy continues to grow despite the 5.5% benchmark federal funds interest rate set by the Federal Reserve in 2023. The Fed’s leaders expect their interest rate decisions to eventually slow that growth. The increase in borrowing costs that stems from Fed decisions does not affect all consumers immediately. It typically affects people who … Read more
Kentaroo Tryman | Maskot | Getty Images Inflation declined slightly last month on the back of weaker prices at the gasoline pump and a broader easing of price pressures throughout the U.S. economy, experts said. The consumer price index in November increased 3.1% from 12 months earlier, down from 3.2% in October, the U.S. Bureau … Read more
The most accurate US bond forecasters of 2023 say the strong year-end rally won’t stretch into 2024. Goldman Sachs Group’s Praveen Korapaty, the bank’s chief interest-rate strategist, and Joseph Brusuelas, the top economist at tax consulting firm RSM, both predict that the 10-year Treasury yield will climb to about 4.5% by the end of next … Read more
Gas prices are seen at a Chevron gas station in Los Angeles on September 28, 2023. Robyn Beck | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. (Photo by Celal Gunes/Anadolu via Getty Images) Celal Gunes | Anadolu | Getty Images This week’s … Read more
Prices across a broad range of goods and services edged higher in November but were mostly in line with expectations, further easing pressure on the Federal Reserve. The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed … Read more
Fed Chairman Jerome Powell prepares to deliver remarks to the The Federal Reserve’s Division of Research and Statistics Centennial Conference on November 08, 2023 in Washington, DC. Chip Somodevilla | Getty Images A flurry of major central banks are set to make their final rate decisions of the year in a crunch week that will … Read more
From Washington to Frankfurt to London and beyond, central bankers are approaching their final decisions of the year against a backdrop of unease at how the global inflation cycle is turning. Policymakers from fully half of the Group of 10 jurisdictions of most-traded currencies are scheduled to meet in the coming days, and interest rates … Read more
A UPS seasonal worker delivers packages on Cyber Monday in New York on Nov. 27, 2023. Stephanie Keith | Bloomberg | Getty Images November’s solid jobs report did not assure that the economy will come in for a soft landing, but it did help to clear the runway a little more. After all, there’s nothing … Read more
