Find out which banks are offering the best MMA rates right now. As interest rates continue to fall following the Fed’s recent rate cuts, it’s more important than ever to ensure you’re earning a competitive rate on your savings. One option you may want to consider is a money market account (MMA). Wondering where the top money market account rates can be found today? Here’s what you need to know. Where to find the best money market account rates today From a historical perspective, money market account in ...

The Federal Open Market Committee voted 9-3 Wednesday to lower the benchmark federal funds rate by a quarter point. Chair Jerome Powell said the two goals of the Fed are "a bit in tension" https://t.co/OrB5mPTddb https://t.co/9y0mccmnX0 ...

Core Insights - President Donald Trump is expected to announce a new Federal Reserve Chair before Christmas, as Jerome Powell's term expires in May [1][6] - Trump aims to appoint a candidate who is willing to lower the federal funds rate, indicating a shift in monetary policy direction [2][3] Candidate Considerations - Five candidates are under consideration for the Fed Chair position: Fed Governors Michelle Bowman and Christopher Waller, former Fed Governor Kevin Warsh, National Economic Council Director Kevin Hassett, and BlackRock director Rick Rieder [2][6] - Trump's previous criticisms of Powell include accusations of maintaining excessively high interest rates, which he believes hinder economic growth [3][6] Economic Implications - The Federal Open Market Committee, which consists of 12 members, votes on interest rates, but the Chair plays a crucial role in setting the agenda and influencing monetary policy decisions [3] - The federal funds rate impacts borrowing costs across various loans, and the Fed's dual mandate focuses on maintaining low inflation and high employment [4]

Monetary Policy - The committee decided to lower the target range for the federal funds rate by 0.25 percentage point, setting it between 2.75% and 4% [1] - A further reduction in the policy rate at the December meeting is not a foregone conclusion [2] Economic Outlook - Conditions in the labor market appear to be gradually cooling [1] - Inflation remains somewhat elevated [1] - The shutdown of the federal government will weigh on economic activity, but these effects should reverse after the shutdown ends [1] - Data suggesting a strengthening or stabilizing labor market would influence future decisions [2]

Federal Reserve Chairman Jerome Powell delivers remarks following the Fed's two-day policy meeting on Wednesday. Markets are assigning a nearly 100% probability that the Federal Open Market Committee will approve a second consecutive quarter percentage point, or 25 basis point, reduction in the federal funds rate. The overnight lending benchmark is currently targeted between 4%-4.25%. Beyond that, policymakers are likely to debate, among other things, the future path of reductions, the challenges posed by a ...

Wall Street strategists are divided on what to replace the federal funds rate with should the Federal Reserve decide to abandon the long-used policy target https://t.co/0NR6J7Y1mE ...

Adjustable Rate Mortgages (ARMs) Overview - Adjustable rate mortgages (ARMs) are regaining popularity after the financial crisis [1] - ARMs offer an initial fixed interest rate period (5, 7, or 10 years) before adjusting to prevailing market rates [2] - Borrowers accept interest rate risk for potentially lower initial rates compared to 30-year fixed mortgages [2] Interest Rate Comparison - Current 30-year fixed mortgage rates are around 63%-64% [3] - Adjustable rate mortgages (ARMs) offer initial rates around 58% for a 7 or 10-year period [3] Market Share and Trends - Adjustable rate mortgages (ARMs) market share reached a post-crisis high of approximately 13% recently [4] - The market share has decreased to around 9% recently [4] - Adjustable rate mortgages (ARMs) usage had previously dropped as low as 1% in some years [4] Changes in ARM Structure - Adjustable rate mortgages (ARMs) adjustments now typically occur every six months or a year [6] - Qualification standards for adjustable rate mortgages (ARMs) are stricter, requiring good credit, down payment, and provable income [6] Link to Federal Funds Rate - Adjustable rate mortgages (ARMs) in the adjustment period are tied to SOFR (Secured Overnight Financing Rate), which is closely linked to the federal funds rate [8] - Potential Federal Reserve rate cuts could lead to lower mortgage rates for adjustable rate mortgages (ARMs) borrowers in the adjustment period [8][9]

Monetary Policy - Dallas Fed President Lorie Logan suggests the US central bank should abandon the federal funds rate as its benchmark in implementing monetary policy [1]

Thank you. Colobby Smith with the uh New York Times. Um two of your colleagues called for a quarter point cut today and I'm wondering what aspects of their argument were most compelling to you and how you're weighing their views against those um on the committee who as of the June forecast uh were in the camp of the Fed holding interest rate study uh for the remainder of the year.Um and and just in terms of the the June SEP in particular, is that still the best representation of where the core of the commit ...