FOMC Announces Second Rate Cut of 2019
The Federal Open Market Committee announced today that it would cut interest rates for the second time this year.
Browsing: Interest rates
FDIC Proposes Changes to National Rate Cap Calculation
The FDIC today proposed a new methodology for calculating the national rate and the national rate cap for specific deposit products.
Fed Cuts Interest Rates for First Time Since Financial Crisis
As expected by analysts, the Federal Open Market Committee announced today that it would cut the target rage for the federal funds rate by a quarter of a point to 2 to 2.25% amid slowing global growth and mounting economic uncertainties.
Nichols: Banks Prepared for Interest Rate Uncertainty
Despite economic headwinds and uncertainties around the Federal Reserve’s next move on interest rates, the banking sector remains strong and healthy, American Bankers Association President and CEO Rob Nichols said today in an interview with Bloomberg TV.
FHFA Publishes Replacement Index for Mortgage Rates
In response to advocacy by ABA, the Federal Housing Finance Agency today published new data that banks may use in place of its Monthly Interest Rate Survey, which many lenders had used to benchmark interest rates on various mortgage products.
Bank Economists Expect Continued Growth Through 2020
ABA’s Economic Advisory Committee—which is made up of 16 chief economists from some of the nation’s largest banks—today forecast that economic growth will continue through 2020 at an estimated rate of 2 percent.
Powell: FOMC to Take Measured Approach Amid Rising Economic Uncertainty
With economic uncertainties mounting—including concerns over trade policy and slowing global growth—Federal Reserve Chairman Jerome Powell today cautioned that “monetary policy should not overreact to any individual data point or short-term swing in sentiment.”
Fed to Maintain Interest Rates but Signals Shift in Sentiment
The Federal Open Market Committee announced yesterday that it would maintain the target range for the federal funds rate at the current 2.25-2.5%.