Federal Reserve Chair Janet Yellen’s 3,600-word speech at an economic symposium in Jackson Hole, Wyoming, today set the stage for shifting gears in monetary policy in the months ahead. The pivot would come after years of keeping interest rates at record-low levels. Trillions of dollars in asset purchases are expected to end in October. Yellen
CD rates are still at historical lows all over the country, but some cities enjoy higher rates than others.
It may not be a “recovery summer” but the Federal Reserve’s Beige Book shows broad but measured growth across many industries and areas of the country.
The opposite side of today’s low CD rate coin can be found in the ’80s when interest rates were high — on everything.
The Fed sticks with a target for the benchmark rate of between zero percent and 0.25 percent. That’s nice for borrowers but not for savers.
The Federal Reserve says it will keep the federal funds rate near zero percent until joblessness drops.
According to the minutes from the October meeting, the FOMC discussed how to effectively communicate the path of interest rates and additional asset purchases.
The Federal Reserve is ready to rescue the economy with another large-scale asset purchase program.
No changes to monetary policy or interest rates came out of this week’s meeting of the Federal Reserve’s rate-setting committee.
At the Fed’s FOMC press conference Wednesday, Fed Chairman Ben Bernanke discussed …