After theraised the federal funds rate nine times in three years, with the last move coming in December as financial markets were melting down, concerns about a slowing economy and a looming U.S.-China trade war has caused the central bank to reverse course.For consumers, the so-called Powell Pivot may mean a reprieve in escalating borrowing costs, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment.
With an end to interest rate hikes for now, savers won't continue to see the same upward momentum, but they can still reap the benefits of thoseWith an annual percentage yield of 2.5%, a $10,000 deposit earns $250 after one year. At 0.1%, it earns just $10.
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Fed holds rates steady, sees no cuts in 2019Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting. He is afraid of Trump. 😅 Kind of a dull way to go out Jerry.
Source: CNBC - 🏆 12. / 72 Read more »
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Trump's potential Fed nominee reportedly wants rates at zeroJudy Shelton said in an interview that, if appointed to the Fed, she would want to lower interest rates all the way down to 0%. She will be doing her job, then. Accelerate the transfer of wealth to the top. Why stop at ZERO? Go for negative rates to prop up equities... Powell knows he has to cut, otherwise this market gets rocked and he gets fired. $SPY $SPX $DJIA $FB $AMZN $AAPL $NFLX $GOOGL
Source: CNBC - 🏆 12. / 72 Read more »