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The FOMC left rates unchanged the day after the Bankruptcy of Lehman Brothers. Official Statement: August 5, 2008 2.00% 2.25% 10–1 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Official statement: April 30, 2008 2.00% 2.25% 8–2 The FOMC cut rates by 25 basis points.
Federal Reserve Chair Jerome Powell repeated on Wednesday that the central bank is in no rush to cut interest rates during a congressional hearing convened shortly after data showed U.S. consumer ...
Meeting date. Rate change. Target. January 9, 1991: Conference call-25 basis points. 6.75 percent. February 1, 1991: Conference call-50 basis points. 6.25 percent
Today’s the day: The Federal Reserve is about to announce what it decided to do with interest rates at its November meeting. We already know what the Fed is likely to do: Cut interest rates by a ...
The Federal Reserve did not lower interest rates, after having done so for three consecutive meetings to end 2024. Stocks declined on the news, with the S&P 500 sinking 0.7% from the previous' day ...
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. ... a homeowner with a $400,000 mortgage could save about $400 a month by refinancing into a loan at today's rate of ...
The Fed began lifting rates back in 2022 to calm raging inflation and since has lifted the benchmark rate 11 times, leaving it at 5.5% today. That's the highest level in more than 20 years.
The committee voted 11-1 to cut rates by a half point to a range of 4.75 to 5%, with Fed governor Michelle Bowman advocating for just a quarter-point cut. The Fed projected lowering rates another ...