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The Federal Reserve's June interest-rate hike means banks are increasing their prime lending rate. In turn, this means interest rates for things like credit cards and loans from these banks will go up.
The US central bank adjusts the interest rates that banks charge to borrow from one another, which is eventually passed on to consumers, to encourage more spending or to control excess.
Federal Reserve Chairman Jerome Powell announced Wednesday that he would hold press conferences after every policy meeting instead of quarterly. "This change is only about improving communications," Powell said.
This was the seventh interest-rate hike since late 2015, when the Federal Reserve first began lifting interest rates from almost zero. It kept borrowing costs that low after the financial crisis to encourage businesses and consumers to spend and grow the economy.
An expert at Trump’s alma mater sees an obvious starting point for an eventual war on the Federal Reserve
President Donald Trump has so far mostly respected Federal Reserve independence, but that is likely to change if economic conditions deteriorate, the Wharton-based Fed watcher Peter Conti-Brown says.
With markets fully pricing in another Federal Reserve interest-rate rise at this week's meeting, all eyes will be on the central bank's hints into the pace and quantity of future hikes.
BERNANKE: Trump’s tax cuts are like ‘Wile E. Coyote’ and the economy’s boost will fall off the cliff in 2020
Ben Bernanke, the former Federal Reserve chairman, said Thursday that the Trump administration's tax cuts would initially boost the economy but reach the edge of the cliff in 2020. Like Wile E. Coyote, they're going to fall off, Bernake said, and make the Fed's job harder.
S&P Global downgraded Deutsche Bank's credit rating on Friday and the bank is also set to face cartel charges in Australia. It comes 24-hours after news broke that Deutsche Bank's US operations have been put on watchlists by regulators, which have deemed it "troubled."
There’s a worrying disconnect between how Fed officials look at the economy and the way workers experience it
A new Federal Reserve survey shows four in 10 Americans could not afford a $400 emergency without going into debt, contradicting the predominant view among Fed officials that the economy is at "full employment."
OPINION: Most Americans have no idea what the term "Asterix Nation" means — but the idea is all too familiar to nearly 7 million Native Americans.