UPDATE: Fed trims interest rates by quarter-point
The rate cut signals that Fed officials are paying more attention to warnings in the economy, including the slowing job market.
Federal Reserve Bank
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Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
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Federal Reserve on cusp of what some thought impossible: Defeating inflation without steep recession
The economy keeps growing, defying widespread fears from a year ago that 2023 would bring a recession, a consequence of the much higher borrowing rates the Fed engineered.
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First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
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Articles
Fed’s favored inflation gauge shows cooling price pressures
The ongoing decline in inflation makes it even more likely that the Federal Reserve will cut its key benchmark rate further in the coming months.
Federal Reserve cuts key interest rate by a sizable half-point, signaling end to its inflation fight
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Federal Reserve set to cut interest rates for first time in 4 years
At issue is how fast the Fed wants to lower interest rates to a point where they’re no longer acting as a brake on the economy—nor as an accelerant. Where that so-called “neutral” level falls isn’t clear.
Sluggish jobs report clears the way for Federal Reserve to cut interest rates
Collectively, Friday’s figures depict a job market slowing under the pressure of high interest rates but still growing.
Fed leader Powell: ‘The time has come’ for Fed to begin reducing interest rates
Federal Reserve Chair Jerome Powell emphasized that inflation, after the worst price spike in four decades inflicted pain on millions of households, appears largely under control.
Fed minutes: Most officials favor rate cut in September if inflation cools
Further guidance on the Fed’s next steps is expected when Chair Jerome Powell gives a highly anticipated speech Friday morning at the annual symposium of central bankers in Jackson Hole, Wyoming.
Fed Chair Powell says September interest rate cut could be ‘on the table’ as inflation cools
Federal Reserve Chair Jerome Powell said Wednesday that the upcoming elections would have no influence on the Fed’s decisions.
Powell says Federal Reserve more confident inflation slowing toward target
In his remarks Monday, Federal Reserve Chair Jerome Powell stressed that the Fed did not need to wait until inflation actually reached 2% to cut borrowing costs.
Is inflation still cooling? Thursday’s report on June prices will provide clues.
Optimism is rising among economists, investors and Federal Reserve officials that U.S. inflation is nearly under control, with the latest report on consumer prices expected to show another month of mild increases.
Fed’s Powell highlights slowing job market in signal that rate cuts might be nearing
The Federal Reserve has made “considerable progress” toward its goal of defeating the worst inflation spike in four decades, Chair Jerome Powell said in his testimony to the Senate Banking Committee.
Fed Chair Jerome Powell: U.S. inflation cooling again, but rate cuts would be premature
After some persistently high inflation reports at the start of 2024, Powell said, the data for April and May “do suggest we are getting back on a disinflationary path.”
Federal Reserve sees some progress on inflation, but envisions just one rate cut this year
The policymakers’ forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated.
Lingering inflation pressures continue to keep Fed rate cuts on pause
Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation.
Fed says interest rates will stay at two-decade high until inflation further cools
The Federal Reserve’s more cautious outlook stems from three months of data that pointed to chronic inflation pressures and robust consumer spending.
Sobering message from the Fed: Interest rate cuts aren’t coming soon
Since the start of the year, Federal Reserve Chair Jerome Powell and his colleagues had said they were looking for more assurance that inflation was ticking steadily down. Instead, they’ve gotten the opposite.
Powell: Fed wants ‘more good inflation readings’ before it cuts rates
Federal Reserve Chair Jerome Powell said the economy’s strength means the Fed isn’t under pressure to cut rates and can wait to see how the inflation numbers come in.
Powell might provide hints of whether Federal Reserve is edging close to rate cuts
A key question for Federal Reserve Chair Jerome Powell and the 18 other officials on the Fed’s interest-rate-setting committee is how—or whether—recent inflation figures have altered their timetable for cutting rates.
Fed leader: Rate cuts likely, but more evidence needed that inflation is tamed
In his remarks to Congress on Wednesday, Federal Reserve Chair Jerome Powell offered no hints on the potential timing of rate cuts.
Federal Reserve officials worried that progress on inflation could stall
In minutes from the Jan. 30-31 meeting released Wednesday, most Fed officials said they were worried about moving too fast to cut their benchmark interest rate before it was clear that inflation was sustainably returning to their 2% target.