The Fed is tasked by Congress with a " dual mandate " to keep inflation low and employment high using the fed funds rate, which is the interest rate banks charge to borrow money from one another. The fed funds rate affects borrowing costs on short-term loans like credit cards and car loans, and indirectly influences longer-term loans like 30-year mortgages. When inflation is high, the Fed raises the rate to discourage borrowing and cool down the economy, allowing supply and demand to rebalance. When the job ...

We've heard you say already that the public finances are in a pretty precarious position. So I want to ask you, many Labour MP really want you to lift the two child benefit cap, and we hear that includes the Prime Minister. Well, we hope to do that when no one needs to tell me how important child poverty is.I cave into the Labour Party because I've wanted children from all backgrounds to have a good start in life. We've already made strides in reducing child poverty in this Parliament. We're rolling out fre ...

In Friday’s trading session, Wall Street’s major equity averages ended in the green. Electronic Arts (EA) surged over +14% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after The Wall Street Journal reported that the company was in advanced talks to go private in a roughly $50 billion deal. Also, chip stocks rallied after The Wall Street Journal reported that the Trump administration was considering a policy requiring U.S. firms to manufacture domestically as many chips as they import, wit ...

U.S. stock futures rose on Monday following Friday’s advances. Futures of major benchmark indices were higher.As the futures advanced, gold prices also hit a new all-time high on Monday morning, with the investors overlooking the possibility of a Donald Trump-led government shutdown. While the market appears calm, a key risk that looms with the near-certainty of the shutdown is a potential blackout of crucial economic data that could leave investors and policymakers flying blind. Meanwhile, the 10-year Trea ...

Today’s CD rates still hover well above the national average. The Federal Reserve reduced its target interest rate three times in 2024 and recently announced its first rate cut of 2025. This has a ripple effect on deposit account rates, which means now could be your last chance to lock in today's high rates with a certificate of deposit (CD). Here’s a look at today’s best CD rates and where you can find the best offers. Best CD rates today As of September 29, 2025, the the highest CD rate is 4.45% APY. T ...

Expansion of oil and gas became a cornerstone of Trump’s agenda for the second-term election. Since taking office, he has implemented a widening array of tariffs on selected countries and commodities to shield US economic interests. During his campaign, he proposed a general global import tariff in the 10%–20% range and tariffs of 60% or more on Chinese goods. The rollout, however, was initially disrupted by delays and policy reversals, with each new announcement provoking international reactions that heig ...

By Niket Nishant and Sukriti Gupta (Reuters) -The S&P 500 and the Nasdaq indexes rose on Monday, rebounding from last week's declines, as investors shrugged off fears of a looming government shutdown and hawkish remarks from a Federal Reserve official. The surge underscores a strong risk-on sentiment among investors, whose expectations of a dovish Fed have helped equities sustain lofty valuations, even amid persistent inflation concerns and labor market uncertainties. "Dip buyers keep being rewarded i ...

Well, first of all, thank you so much for having me. It's a it's a pleasure to be with you. Um, on the inflation side right now, I continue to be worried about where we are uh from from an inflation perspective.We've been missing our mandate on the inflation side, our our objective of 2% for more than four and a half years. And I continue to see that we have pressure in inflation both in the headline in the in the core. Um, and particularly where I'm worried about it is I'm seeing in services.So, a number o ...

Core Viewpoint - The U.S. Federal Reserve must maintain a restrictive monetary policy to achieve its 2% inflation target, as stated by Cleveland Fed President Beth Hammack [1][2]. Group 1: Monetary Policy Stance - The Federal Reserve is facing challenges on both sides of its mandate, which includes managing inflation and maximizing employment [1]. - Hammack emphasizes the need for a restrictive policy stance to bring inflation back to the target level [2]. - Hammack, known for her hawkish views, anticipates that inflation will remain above the target for the next 1-2 years [2]. Group 2: Inflation Concerns - Hammack highlights the need to monitor pressures in the services sector, such as insurance, which contribute to "super core" inflation, indicating that inflationary pressures may not solely stem from tariff impacts [3]. - She previously indicated that the Fed should be cautious in removing restrictive monetary policies, given that inflation remains persistent and above the 2% target [3].

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Friday.U.S. stocks settled higher on Friday, with the Dow Jones index gaining around 300 points during the session following the release of inflation data.Inflation figures released Friday showed no surprises but indicated the Fed's need for caution on its rate-cut cycle. The Personal Consumption Expenditures (PCE) price index rose 2.7% year-over-year in August, up fr ...