In the wake of Federal Reserve Chairman Jerome Powell’s announcement that the central bank was ready to begin cutting interest rates, Sen. Elizabeth Warren (D-MA) is demanding a 75-basis-point slash. In a speech on Friday, Powell declared, “The time has come for...
Federal Reserve Chairman Jerome Powell has given his clearest signal that central bank is ready to cut interest rates in September. In a speech delivered today at an economic symposium sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming,...
The Bank of England trimmed the base rate by a quarter-point to 5%. This marked the first rate cut by the UK’s central bank since March 2020. Within the Bank of England, the rate cut decision was somewhat contentious, with the Monetary Policy Committee voting...
The Bank of Canada cut its key policy rate for the second consecutive month, slicing away 25 basis points to achieve a 4.5% level. In announcing the rate cut, the central bank predicted Canadian GDP growth to increase in the second half of 2024 and into 2025, adding...
The outgoing president of the Cleveland Federal Reserve welcomed this week’s data pointing to lower inflation readings but warned that the central bank has to “see that continue a bit longer” before it can consider cutting interest rates. In an interview...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
