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%.
Browsing: Interest rates
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.
The “relative inelasticity of supply in key sectors” sets the economy of the past three years (encompassing the COVID-19 pandemic and the Russian war in Ukraine) apart from the 30-year period prior, Federal Reserve Vice Chair Lael Brainard said.
Two members of the Federal Open Market Committee said today that the committee is likely to raise the federal funds rate again in the future and perhaps maintain a restrictive policy stance into 2024.
Against the backdrop of significantly slowing economic growth and a tight labor market, Federal Open Market Committee members agreed to raise the federal funds rate another 75 basis points at their recent Nov. 1-3 meeting, according to minutes released Wednesday.
While borrowers are getting pinched by rising interest rates, senior savers are seeing meaningful returns for the first time in decades, former ABA Chair Laurie Stewart said in an interview on NPR’s “Marketplace” program last night.
As the end of the year draws near, banking journalist and analyst Paul Davis joins the ABA Banking Journal Podcast to discuss the bank mergers and acquisitions outlook for 2023.
It soon may be appropriate to slow the pace of increases in the federal funds rate, Lael Brainard, vice chairwoman of the Federal Reserve, said yesterday during an interview with Bloomberg News.
The Federal Open Market Committee today announced it would raise the target range for the federal funds rate to 3.75 to 4%.
Most banking executives believe that interest rates won’t peak until the first half of 2023, according to a new survey by financial technology firm IntraFi.