A Kentucky U.S. District Court ruled this week the Federal Reserve's debit interchange Regulation II is lawful and reasonable. The Kentucky retailer sued the Federal Reserve in 2022 arguing that the debit card interchange regulation improperly includes certain costs in its calculation leading to unfairly high fee cap, but the court dismissed the…
Economic News
–The Federal Reserve announced a quarter-percentage-point rate cut on Wednesday, after taking a wait-and-see approach to President Donald Trump's sweeping tariffs. The FOMC said the decision was in "light of the shift in the balance of risks. Trump's newest appointee to the FOMC, Stephen Miran, was the only member to oppose the move.
On Sept. 17, the Federal Reserve voted to cut the federal funds rate by 25 basis points. Mortgage lenders anticipated this move; last week, the average 30- year mortgage rate fell below 6.5% for the first time in 2025. "Rates have been trending downward lately, and while we're not seeing dramatic drops, the momentum is encouraging," said Chris Lim, chief growth officer…
The Federal Reserve just delivered the rate cut that Wall Street predicted, trimming the federal funds rate by 0.25 percentage points. The new target range is now 4.00% to 4.25%. In August 2025, Federal Reserve Chair Jerome Powell signaled rate cuts in a speech at the Fed's annual symposium in Jackson Hole, Wyo. Powell noted that "the baseline outlook and the…
The U.S. property/casualty insurance segment posted record-high investment income of $89 billion in 2024, a notable 20% year-over-year increase bolstered by the higher interest rate environment, according to a new AM Best report. After over a decade of persistently low interest rates, the Federal Reserve raised rates by 425 basis points between 2022 and…
NEW YORK– The Federal Reserve cut its benchmark interest rate Wednesday for the first time in nine months. The federal funds rate, set by the Federal Reserve, is the rate at which banks borrow and lend to one another. The Fed projected it will cut rates two more times before the end of the year.
Bitcoin price was little changed on Thursday morning, hours after the Federal Reserve slashed interest rates as most analysts were expecting. In a statement, Jerome Powell, the Fed Chair, noted that the labor market was no longer solid, citing the recent economic numbers, which showed that the country created just 22,000 jobs in August. What is unclear, however, is…
Apiture, a leading provider of digital banking solutions, today announced that First Fed Bank, a trusted Washington institution since 1923 with $2 billion in assets and a commitment to local impact, has launched the Apiture Digital Banking Platform to enhance the online and mobile banking experience for its business customers. First Fed also implemented the…
The Fed's job can seem like a balancing act. The Federal Reserve on Sept. 17, 2025, cut its target interest rate as it shifts focus from fighting inflation to supporting the choppy labor market. The Fed's decision to begin cutting rates comes as evidence mounts that the U.S. labor market is losing momentum.
In 1913, Congress gave the Federal Reserve a clear and narrow mission: Safeguard the value of our money and support stable employment. The truth is simple: The Fed, like the U.S. Department of Education, United States Agency for International Development and so many other agencies that have come under attack by President Donald Trump’ s administration, has…
The White House has also floated several members of the Fed's governing board as potential replacements for the current chair, Jerome Powell, when his term ends in May, creating incentives for those officials to push for the deep rate cuts Trump has demanded. Instead, just one official dissented from the Fed's decision to reduce its rate by a quarter-point:…
The Federal Reserve voted to lower interest rates by a quarter percentage point on Wednesday while signaling that it might pursue two additional rate cuts later this year. Weighing inflation, which Fed Chairman Jerome Powell said“ remains slightly elevated,” against a cooling labor market, Powell described the cut as a“ risk management” move to promote…
NEW YORK- U.S. stocks churned between gains and losses on Wednesday but ultimately remained near their record levels. The swings came after the Federal Reserve cut its main interest rate for the first time this year. That move was no surprise for Wall Street, which was widely expecting it.
Ways and Means Committee Chairman Jason Smith issued the following statement after the Federal Open Market Committee announced its decision to lower the benchmark rate by 25 basis points:. Recent data showed 911,000 fewer jobs were created at the backend of the Biden presidency than originally understood, revealing the weak economy that President Trump…
U.S. Congressman Sean Casten and U.S. Senator Jeff Merkley sent a letter to the Securities and Exchange Commission demanding it conduct full oversight of Justin Sun's cryptocurrency company and his multi-million dollar investments into President Donald Trump's digital assets projects, which raise serious investor protection and national security…
RALEIGH, N.C.— Borrowing could soon get cheaper, but experts say your savings account might take a hit, after the Federal Reserve cut interest rates by a quarter point Wednesday for the first time in nine months. When determining whether to cut rates, the Fed has to balance inflation and the labor market. Michael Walden, William Neal Reynolds Distinguished…
WASHINGTON- The Federal Reserve, goaded by the risk of rising unemployment, reduced interest rates on Wednesday for the first time since December and indicated more cuts would follow to halt any slide in a labor market already experiencing higher joblessness among Blacks, a declining workweek, and other signs of weakness. The decision moves in a direction…
The Federal Reserve cut interest rates by a quarter-percentage point Wednesday to bolster a weak job market amid unrelenting pressure from President Trump, who has installed a key ally at the central bank. The Fed also signaled potentially more rate cuts before the end of the year and possibly in 2026.. Mr. Trump swore in Mr. Miran to the Fed’ s board of governors…
—Hoping that mortgage rates will keep dropping following the Federal Reserve's first rate cut since last year? As expected, the central bank delivered a quarter-point cut Wednesday and projected it would lower its benchmark rate twice more this year, reflecting growing concern over the U.S. job market. Here's a look at factors that determine mortgage rates and…
