The Fed's Powell will have to play politics to keep his job
The Federal Reserve has always been a political entity. And Fed Chairman Jerome Powell knows if he wants to keep his job he will have to play politics this election year.
US fourth quarter GDP beats expectations and recession odds
Real GDP increased at an annual rate of 3.3% for the October-through-December period after rising 4.9% in the third quarter of 2023, according to the BEA's advance estimate released Thursday.
Mortgage rates hold steady but likely to keep dropping as 2024 unfolds: Freddie Mac
The average 30-year fixed-rate mortgage was 6.62% for the week ending Jan. 4, according to Freddie Mac's latest Primary Mortgage Market Survey. However, many perspective homebuyers said they need rates to fall before buying a house.
Here's how you can make your 2024 financial goals a reality
Higher living costs are why Americans think it will be more challenging to meet financial goals next year, but many are taking steps to make sure they don't miss the mark, a recent survey said.
Final third quarter GDP estimate revised downward to 4.9%
U.S. economic growth expanded at 4.9% in the third quarter of 2023, the Bureau of Economic Analysis said Thursday in a revised estimate.
'Too early to declare victory' on inflation, Chicago Fed president says
Chicago Federal Reserve Bank President Austan Goolsbee said Sunday that although the central bank has made good progress in bringing down inflation it's "too early to declare victory."
Fed decides no interest rate bump in December, indicates cuts ahead
The Federal Reserve announced a third interest rate pause during its December meeting on Wednesday, still leaving the federal funds rate at a 22-year high of 5.25% to 5.5%.
November inflation slows to 3.1%, led by falling gas prices
On an annual basis, consumer prices rose 3.1% in November, down from 3.2% growth last month and in line with economists' expectations.
U.S. employers add 199,000 jobs in November, hinting U.S. economy headed for soft-landing
Employment rose by 199,000 in November, according to the latest Employment Situation Summary from the U.S. Bureau of Labor Statistics (BLS).
Here's how high interest rates can help build your savings
The Federal Reserve's efforts to lower inflation have pushed interest rates to an all-time high, which means consumers pay more to borrow but could be earning more on savings, a recent survey by Santander said.
Recession or not, mortgage rates to keep dropping and home sales will recover by 2025: Fannie Mae
Fannie Mae said it expects mortgage rates to decline gradually over the next two years, which will trigger a modest rebound in home sales, according to its latest economic forecast report.
Fed may not be done with interest rate hikes – Here's how that could impact your debt
Federal Reserve Chairman Jerome Powell said that the progress made on moderating inflation has been gratifying but that there was still a long way to go to bring it to a 2% target rate.
Flat October inflation leaves consumer prices unchanged
Consumer prices held steady in October as prices remained the same as the month before, and on an annual basis, prices rose 3.2% in October, a deceleration from the 3.7% growth in September.
Record number of Americans moving to disaster prone areas
Despite recent natural disasters, places known for climate risk are becoming popular destinations for homeowners.
U.S. job growth solid, but signs of cooling emerge in October
Employment rose by 150,000 in October, according to the latest Employment Situation Summary from the U.S. Bureau of Labor Statistics (BLS).
Mortgage rates retreat, but Fed indecision could reverse course: Freddie Mac
The average 30-year fixed-rate mortgage increased to 7.76% for the week ending Nov. 2, according to Freddie Mac's latest Primary Mortgage Market Survey.
GDP surges past expectations in Q3, recession less likely
An uptick in consumer spending helped the U.S. economy grow in the third quarter and increased the odds of a soft landing.
US budget gap soars to $1.7 trillion, largest outside COVID era
Sky-high budget deficits are outpacing the last fiscal year by almost 25% as interest costs on federal debt rise, outpacing 2021's $2.8 trillion gap.
Philadelphia Fed President Harker believes interest rates should hold steady
Philadelphia Fed President Patrick Harker said that he believed the central bank could hold rates where they are if economic and financial conditions evolve as they have been.
The Fed is likely done with interest rate hikes: MBA forecast
The Federal Reserve is unlikely to raise interest rates in November, and there is a minimal chance they will do so in December, according to the Mortgage Bankers Association Chief Economist Mike Fratantoni.