Federal Reserve officials cut the federal funds rate, or the borrowing rate that banks charge each other, by 25 basis points or 0.25% on Wednesday. The central bank’s rate-setting committee, the Federal Open Market Committee (FOMC), announced Wednesday that the target range for the federal funds rate was now 4.25% to 4.5%. Federal Reserve chair...
Tag: interest rates
Barbara Corcoran: Ask This Question Before Selling Your Home
Mortgage rates dropped to a two-year low last week, hovering around 6.08%, before inching up to 6.12% on Thursday. Barbara Corcoran, founder of real estate firm The Corcoran Group and longtime “Shark Tank” investor, says that the immediate impact will bring more buyers and sellers to the market, but there is still a big issue....
EY, JPMorgan Experts on What Fed Rate Cuts Mean
As the job market cools and CEOs pull back on hiring, it’s no surprise that the Federal Open Market Committee cut rates by half a percentage point on Wednesday, bringing it down from a 23-year high to a range of 4.75% to 5%. Economists predicted the highly anticipated decision, with EY senior economist Lydia Boussour...
EY Senior Economist: ‘Stage Is Set’ For Rate Cuts
A senior economist expects multiple cuts in the federal funds rate (the rate banks pay that ripple out to consumer interest rates on everything from credit cards to mortgages) before the year ends. On Wednesday, the Federal Reserve released meeting minutes for the Federal Open Market Committee meeting held on July 30 and July 31....
Inflation Down, Fed Rate Cut Expected in Sept: CPI Report
Inflation is now at 2.9%, marking the first time it has fallen below 3% since March 2021. Wednesday’s Consumer Price Index (CPI) report, which tracks the prices of essential goods and services and helps the U.S. Federal Reserve determine economic policy, found that prices rose 2.9% in July compared to July 2023. This could mean...
Fed should be a ‘little concerned’ about starting cuts too early: Nasdaq CEO
Adena Friedman, CEO & Board Chair NASDAQ, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC Nasdaq CEO Adena Friedman believes the Federal Reserve should be wary of cutting interest rates too soon. Speaking at a CNBC-moderated panel at the World Economic Forum in...
Next global financial crisis is not ahead: UBS U.S. chief economist
Despite indicators like U.S. credit card debt pointing toward financial and economic pressures, another global financial crash is not imminent, UBS chief U.S. economist Jonathan Pingle believes. U.S. credit card debt soared to $1.08 trillion in the third quarter of 2023, data from the Federal Reserve Bank of New York showed earlier this month. This...
Carlyle’s Harvey Schwartz: ‘Incredible alpha opportunities’ ahead
Several of Wall Street’s biggest names convened in Riyadh, Saudi Arabia, for the kingdom’s annual Future Investment Initiative, during which they weighed in on risks and opportunities for investors and the global economy. Bankers speaking on panel discussions notably stressed headwinds — particularly in the short term — from multiple wars, an economic slowdown and...
Arm IPO to help jump-start IPO market: Airbnb investor Rick Heitzmann
Arm Holdings will help jump-start the IPO market, according to the venture capitalist behind Airbnb and Pinterest. FirstMark Capital’s Rick Heitzmann believes real fundamental demand for IPOs is returning. “People are looking for the new toy,” the firm’s founder and partner told CNBC’s “Fast Money” on Thursday. Chip design company Arm, which is affiliated with...
Vietnam’s digitalization efforts fuel startup scene
Vietnamese employees working inside the French IT company Linkbynet in Ho Chi Minh City. A decade ago app technology would likely have been developed in California’s Silicon Valley, but today those apps are being churned out by Vietnam’s startup sector, an industry driven by local techies trained overseas but returning home to prowl for opportunities....