Federal Reserve pauses interest rate hikes — for now
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
Interest Rates
Federal Reserve holds interest rates steady
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
Federal Reserve pauses interest rate hikes
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
Interest rate hike not expected this month
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
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Oil cuts abroad could impact interest rates
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Jobs report shows jump in unemployment
Unemployment jumped from 3.5% to 3.8% this month, a sign that the job market is cooling. The market also added 187,000 jobs. The Biden administration said this showed more people joining the workforce. Meanwhile, the Federal Reserve is considering another interest hike amid soaring inflation. Christina Ruffini reports.
Is the Fed done raising interest rates?
Officials with the Federal Reserve won't convene again until September after hiking interest rates last month for the 11th time in the past year and a half. Jeanna Smialek, who covers the Fed and the economy for The New York Times, joined CBS News to discuss whether there will be another rate increase.
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Fewer available homes driving up prices
Data from FactSet shows existing homes and new homes are now selling for the same median price. Ten years ago, new home prices were on average $60,000 more expensive than existing homes. A big reason for that could be a lack of housing stock due to potential sellers hanging onto their homes thanks to lower interest rates on their mortgages. Sami Sparber, real estate reporter for Axios, joined CBS News to talk about the trend.
Fed hikes interest rates to highest level in more than 20 years
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Fed raises interest rates quarter of a point
After briefly pausing its war on inflation last month, the Federal Reserve is resuming the battle by hiking its benchmark interest rate to the highest level in 22 years. Hope King, senior business reporter for Axios, joined CBS News as the Fed announced the rate hike.
What another interest rate hike means
The Federal Reserve is expected to raise interest rates again Wednesday afternoon after pausing in June. CBS News business analyst Jill Schlesinger discusses how this hike will affect Americans.
Fed expected to raise interest rate Wednesday
The Federal Reserve is expected to raise interest rates again Wednesday after pausing more than a year of rate hikes in June. Experts believe the central bank will increase rates by one-quarter of a percentage point as part of its ongoing fight against high inflation. Joe Rennison, markets reporter for The New York Times, joined CBS News to discuss.
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Job market cools in June
The U.S. economy added fewer jobs than predicted in June, sending stocks seesawing even as the unemployment rate remained steady. The report sparked fears that the Fed will raise interest rates again. Natalie Brand is at the White House with more.
What the jobs report means for interest rates
Job creation slowed down last month, but Friday's jobs report still outperformed some economists' expectations. Javier David, managing editor for business and markets for Axios, joined CBS News to discuss what the numbers might mean for interest rate changes from the Federal Reserve.
Prices, spending eased in May, data shows
New economic indicators closely watched by the Federal Reserve suggest an expected interest rate hike in July may not be locked in after all. The personal consumption expenditures index shows prices easing slightly for the month of May as consumer spending begins to slow. New York Times business reporter Jordyn Holman joined CBS News with more.
Americans continue spending as inflation cools
Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
Economy sends mixed signals
For the first time in 15 months, the Fed paused hikes in interest rates as inflation has started to wane — although it remains high. Mark Strassmann reports.
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