Browsing: Fed

Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.

WASHINGTON — Federal Reserve officials indicated Wednesday that they still plan to lower their key interest rate three times in 2024 despite signs that inflation remained surprisingly high at the beginning of the year. However, they expect fewer rate cuts in 2025 and have slightly raised their inflation forecasts. After concluding their latest meeting, the […]

Before the Federal Reserve’s meeting on interest rates and inflation, progressive lawmakers are urging the central bank to “seriously think about” the effect of ongoing high interest rates on housing affordability and other economic problems.