interestrates
The Federal Reserve, as the authoritative body, has announced that interest rates will remain unchanged due to a “lack of progress” in bringing inflation down. The government body published a statement on behalf of the Board of Governors for the Federal Reserve System showing that the target of 2% or lower hasn’t been reached. Interest rates bob and weave above 3%, which isn’t good for the average American business, as most would have hoped for a cut after today’s announcement. “Interest rates remain unchanged,” says FedThe Fed has been keen on bringing inflation down since the COVID-19 pandem...
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Recent data has shown that the U.S. Federal Reserve could hold off on cutting short-term interest rates in the face of rising productivity results, according to Chris Waller, a leading figure and Fed Reserve governor. Waller would speak about the state of play of the U.S. financial market at the Economic Club of New York, titled “There’s still no rush.” “There is no rush to cut the policy rate. Indeed, it tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2 percent,...
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A tumbling stock market and higher interest rates are forcing consumers to buy annuities. According to LIMRA, a trade group for the insurance industry, annuity sales in the third quarter of 2022 approached $80 billion, just beating the $79.4 billion record set in Q2. It’s an impressive 27% increase over last year. As in 2008, purchasing decisions seem largely driven by concern about stock market volatility and recession possibilities. If you recall, the S&P 500 stock index officially entered a bear market in June and has remained low since. Due to this, investors holding U.S. bonds, which typi...
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Whether it’s mortgages, auto loans, or credit cards, you’ve likely seen APR, or annual percentage rate. By understanding how APRs work, you can make better financial decisions when borrowing money. We’ve got the lowdown. Defining APRAccording to the Consumer Financial Protection Bureau (CFPB), an APR is the price you pay for borrowing money. In other words, it’s the yearly rate you’ll pay if you carry a balance, and it can vary from lender to lender. For example, let’s say that you have two credit cards. The APR of one card may be 10.99% and the APR of another might be 15.99%. Your credit scor...
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