WASHINGTON — The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy. In a follow-up to September’s big half percentage point reduction, the Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, or 25 basis points, to a target range of 4.50%-4.75%. The rate sets what banks

Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times. As a result, money market account (MMA) interest rates rose sharply. However, the Fed slashed the federal funds rate by 50 basis points in September. So deposit rates — including money market account rates — have started falling. It’s more important than ever to compare MMA rates and ensure you earn as much as possible

Breadcrumb Trail Links News It would cost $103 billion to replace infrastructure that’s already in ‘very poor’ condition Published Nov 06, 2024  •  Last updated 1 day ago  •  4 minute read You can save this article by registering for free here. Or sign-in if you have an account. Just 31 per cent believe the current state of infrastructure in their communities — including roads, hospitals, wastewater systems and community centres,

The bond market will close for Veterans Day on Monday, Nov. 11. The stock market will be open. Both markets will close for Thanksgiving, Christmas and New Year’s Day. Bond traders have a long weekend ahead of them. Stock traders? Not so much. The bond market will close on Monday in observance of Veterans Day. Wall Street, however, will be open on Monday, with the stock market open for a

Federal Reserve Chair Jerome Powell said he won’t step down if President-elect Donald Trump, who has previously criticized Powell’s performance, asks him to resign.  Speaking at a press conference Thursday to discuss the Fed’s move today to cut its benchmark interest rate by 0.25 percentage points, Powell added that it is not permitted under the law for presidents to fire or demote the Fed chair. When asked if he’d step

(Reuters) – Futures tracking the benchmark S&P 500 (ES=F) were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates. Futures for all three major indexes were little changed in early trading after S&P 500 futures passed the milestone for the first time on Thursday. “I can’t

Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C., on Nov. 7, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Expectations for a December interest rate cut remained strong after the Federal Reserve trimmed rates by a quarter percentage point in November, but market pricing is suggesting

(Reuters) – Icahn Enterprises LP (IEP) plans to raise its stake in U.S. oil refiner CVR Energy by more than 20%, the Wall Street Journal reported on Thursday. The company, a controlling shareholder of the oil refiner, plans to raise its stake in CVR to more than 81% by buying an additional 15 million shares, the report said, citing draft statements that billionaire activist investor Carl Icahn and his firm

Breadcrumb Trail Links News Economy Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75% Author of the article: Bloomberg News Craig Torres Published Nov 07, 2024  •  Last updated 9 hours ago  •  2 minute read You can save this article by registering for free here. Or sign-in if you have an account. Federal Reserve chair Jerome Powel. Photo by Al Drago /Bloomberg Article

By Tom Westbrook and Samuel Shen SINGAPORE (Reuters) – Asia and even China are shaping up as surprisingly resilient investment markets as Donald Trump returns to the White House, with fund managers optimistic the region can withstand tariffs better than Europe. Investors say Asia’s exporters and supply chains have been able to better weather trade tensions, that China is ready to bolster its domestic demand and that India’s rapid growth