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The federal funds rate, which acts as a benchmark for borrowing rates in the rest of the economy, will now move down to about 4.8%, the lowest level since March 2023.
NEW YORK (Reuters) -U.S. consumers got an immediate reprieve on borrowing costs from banks after the Federal Reserve cut interest rates on Wednesday for the first time in more than four years.
Savings interest rates today: Best accounts still paying out up to 5.50% APY after half-point Fed cut — Sept. 19, 2024 AOL The Fed rate cut: 5 ways lower rates will affect your wallet
Bank of America and Wells Fargo advanced over 1% each after the big banks lowered their respective prime rates. Citigroup also rose 1.9%, sending the broader banks index 0.8% higher.
Dow industrials jump more than 200 points after central bank embarks on easing ... senior global market strategist at Wells Fargo, said in a note. ... Bringing down interest rates should drive ...
Map of Wells Fargo branches in August 2015 Wells Fargo branch in Berkeley, California A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North Carolina American Express Co. early receipts (1853, 1869) Stagecoach with Christmas gifts at a Wells Fargo Bank, San Francisco Wells Fargo & Co. Express building circa 1860, Stockton, California Mud wagon — Wells Fargo U ...
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