Senators Hawley and Sanders seek to limit credit card interest rates to 10 percent. Senators Josh Hawley of Missouri and Bernie Sanders of Vermont jointly introduced a bill…
Read MoreInterest Rates
Federal Reserve Holds Interest Rates at 4.25 to 4.5 Percent Range
Chairman Powell holds steady as President Trump calls for steeper cuts. The Federal Reserve chose to hold banking interest rates steady at a range of 4.25 to 4.5…
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CFPB Sues Capital One for Cheating Customers Out of $2 Billion in Interest
The bureau alleges the company published misleading communications about new savings accounts. The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against the bank Capital One for…
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Federal Chief Economists Respond to Mortgage Rates Increasing
The housing market continues to experience challenges. The Federal Home Loan Mortgage Corporation (Freddie Mac) reported that the average rate for a 30-year-fixed-rate mortgage neared 7 percent this…
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Federal Reserve Cuts Interest Rates
It is the second consecutive rate cut since inflation has begun to flatten. The Federal Reserve met for its final meeting of 2024, opting to reduce banking interest…
Read MoreFederal Reserve Board Cuts Prime Rate 50 Basis Points
The central bank was motivated by the change in the employment rate, among other factors. The Federal Reserve cut interest rates by half a point on Wednesday, an…
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Labor Department Documents Mixed Inflation Cues in August Report
The department also released employment numbers, which missed projections. In its monthly inflation report released Wednesday, the Department of Labor found that the consumer price index increased 0.2…
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Federal Reserve Informally Agrees on Interest Rate Cuts
Members point to an unexpected decrease in inflation rates. Federal Reserve members expressed the intent to lower interest rates at the upcoming meeting on September 17 and 18.…
Read MoreLabor Department Reports CPI Declined Slightly in July
The annual inflation rate has not been below 3 percent since March 2021, economists look to Federal Reserve’s next interest rate meeting. President Biden’s administration recently released two…
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Labor Department Reports February Employment Numbers
The unemployment rate has returned to pre-pandemic levels. The Labor Department released the February edition of the Job Openings and Labor Turnover Survey, showing there were 1.36 job…
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