US EditionFederal Reserve cuts key rate by quarter-point and signals two more cuts this year
- On Wednesday, the Federal Reserve, under Chair Jerome Powell, lowered the federal funds target range by 0.25 percentage points, marking the first interest rate cut in 2025.
- The rate cut followed rising inflation, slowing job growth, and pressure from investors and political figures including President Trump for the Fed to ease policy.
- Powell noted the Fed had kept rates steady for five meetings due to economic uncertainty, and its dual mandate to balance employment with price stability remains challenging.
- The federal funds rate currently stands between 4% and 4.25%, with Powell emphasizing that FOMC members will determine future actions by carefully evaluating the data and considering its impact on the economic outlook.
- This rate cut signals potential further easing, but economists warn multiple cuts may be necessary before consumers see significant changes in borrowing costs or savings.
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Interest Rate Cuts: What it means for Hawaiiair
HONOLULU (KHON2) - Following Wednesday morning's announcement of the federal reserve cutting interest rates by a quarter percentage point, changes in a variety of everyday finances could be coming in the near future. What is the federal interest rate and why does it change? "Think like your mortgages, your personal loans," said Riki Yu, Trust Investment Manager at Central Pacific Bank, when asked about what an everyday person could see cha…
Fed cuts interest rates amid economic uncertainty
The Federal Reserve cut its benchmark interest rate for the first time this year, dropping it by a quarter point. The change could have an impact on many lending rates and the Fed suggested two more cuts by year's end. To discuss the cut and what's ahead, Geoff Bennett spoke with Ron Insana, a contributor to CNBC and publisher of the Substack column, The Message of the Markets.
Washington, Sept 17 (EFE).- The US Federal Reserve announced on Wednesday its first reduction in interest rates in nine months, cutting the benchmark by a quarter point and placing it in a fork between 4 and 4.25 %, and pointed to further declines by the end of the year at a time marked by economic slowdown and rising downward risks to employment.A majority of members of the agency's Federal Open Market Committee (FOM) believe that by the end of…
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