WalletHub survey: Most Americans unprepared for recession
More than half of Americans (56%) say they are not financially prepared for a recession, while 40% remained concerned about inflation, according to new survey data from WalletHub.
Browsing: Interest rates
Fed’s Jefferson: Inflation remains too high
While inflation has come down substantially since last summer, it is still too high, and by some measures progress has been slowing, Federal Reserve Governor Philip Jefferson said today during an insurance conference in Washington, D.C.
FOMC minutes: Banking sector woes further cloud economic outlook
The economic fallout from last month’s bank closures failures led some Federal Open Market Committee members to support a lower increase in the federal funds rate than they had anticipated up to that point, according to minutes of the committee’s March meeting.
ABA report: Consumers managing credit well despite continued headwinds
Consumers continued to manage their credit well despite economic headwinds in the third quarter of 2022, according to the latest ABA Credit Card Market Monitor released this week.
Powell expects Fed to pick up pace of rate hikes
Recent economic data suggests the Federal Reserve will need to continue to raise interest rates this year to slow inflation and possibly push rates higher than previously projected, Fed Chairman Jerome Powell told lawmakers on the Senate Banking Committee this week.
Gruenberg: Rising interest rates could cut into bank profitability
The current interest rate environment has had “dramatic effects” on the profitability and risk profiles for banks’ funding and investment strategies, FDIC Chairman Martin Gruenberg said this week.
FOMC minutes: Most members favored a lower rate increase
Nearly every member of the Federal Open Market Committee agreed to raise the federal funds rate by 25 basis points at the committee’s most recent meeting at the end of January, according to FOMC minutes released this week.
FOMC raises rates by 25 basis points
The Federal Open Market Committee this week announced it would raise the target range for the federal funds rate by 25 basis points to 4.5% to 4.75%.
Fed raises rates by 50 basis points
The Federal Open Market Committee today announced it would raise the target range for the federal funds rate by 50 basis points to 4.25% to 4.5%.
Powell signals Fed will slow pace of rate increases
In a speech today, Federal Reserve Chairman Jerome Powell said while inflation remains persistently high, the Federal Open Market Committee may slow the pace of increases in the federal funds rates starting as early as its December meeting.