The Fed holds interest rates steady. Here's the impact on your money.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
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The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In the past year and a half, the Federal Reserve has increased interest rates to the highest level in 22 years in an attempt to ease inflation. The Fed is trying a new strategy. CBS News business analyst Jill Schlesinger reports.
Inflation is heating back up, with the Federal Reserve's inflation gauge rising the highest we've seen in months. Consumer prices continue to rise. Experts tell CBS News it's a sign high inflation still has a hold on the economy, despite the Fed's efforts to tame it. Chicago restaurant owners tell CBS 2's Tara Molina they are getting hit twice.
Interest rates mostly impact those buying cars and homes, but businesses borrow money too, and pass along the costs to consumers.
The Federal Reserve raised its key interest rate another three-quarters of a percentage point as it battles the hottest inflation in decades. The impact of the move on consumers is wide-ranging.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Economists expect a sharp increase in borrowing costs. That could impact credit cards, loans and other debt.
