From mortgages to auto loans to credit cards, borrowing is set to get even pricier. But the Federal Reserve’ s decision on Sept. 16, 2026, to hike its baseline interest rate also highlighted an increasingly confounding dilemma: It can raise the price of money across the economy, but it can’ t determine which sectors are most affected. But the Fed’ s action also…
Economic News
The Federal Reserve raised interest rates a quarter point Wednesday, its first increase in three years, a unanimous move that came despite President Donald Trump's demands for cuts, with officials signaling more increases could follow this year. The increase keeps short-term borrowing costs elevated heading into fall for credit cards and auto loans, and can…
The Federal Reserve raised interest rates Wednesday for the first time in several years in the face of stubborn inflation. The central bank's Federal Open Market Committee, under Fed Chair Kevin Warsh, voted unanimously to increase the central bank's benchmark interest rate to a range of 3.75 percent to 4 percent. It marks the first time the Fed has hiked rates…
For a third time, the U.S. House has voted to end the war in Iran, approving a war powers resolution that would halt President Donald Trump’ s ability to continue military action without congressional approval. Trump is in North Carolina on Wednesday to campaign with Republican Senate nominee Michael Whatley as the former national party chairman tries to shore…
The following information was released by the U.S. Senate Committee on Banking, Housing, and Urban Affairs:. United States Senator Elizabeth Warren, Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee released the following statement:. "Donald Trump is driving up costs so much that even his sock puppet at the Fed might raise interest rates.
Federal Reserve hikes key interest rate for 1st time in 3 years, defying Trump's demand for cut
—Federal Reserve hikes key interest rate for 1st time in 3 years, defying Trump's demand for cut.
Many gold investors are anxiously waiting to hear what rate decision will come out of the September meeting of the Federal Reserve. While the decision made may have an effect on the gold market, the impact is unlikely to be as durable as the effects of the current actions that the U.S. Treasury is already […]
War in Iran has created a global fuel shortage that is driving up oil prices, which has a trickle down effect on consumers, and the latest economic measures show inflation remains sticky, threatening to grow more. "The responsibility for 65 months of sustained, elevated inflation sits squarely with the central bank," Kevin Warsh, Federal Reserve chairman, said in an…
—U.S. stocks slipped Wednesday after the Federal Reserve hiked its main interest rate for the first time in three years and suggested more may be ahead as it tries to get the nation’ s high inflation under control. The U.S. stock market initially held onto its modest, early gains after the Fed announced its decision. But stock prices weakened later in the day as Fed…
—Inflation in the United Kingdom rose to a five-month high as the aftershocks of the Iran war continued to ratchet up fuel prices, official figures showed Wednesday, an increase that will pressure the Bank of England to hike interest rates again over coming months. Interest rates in the U.K. had been trending downward from a 15- year high of 5.25% until the U.S. and…
Costly loans drive consumers to longer loan terms, riskier borrowing strategies. Economic analysis from the US Bureau of Labor Statistics, for instance, describes a fairly resilient labor market, with unemployment hovering around 4.2%, down from a four-year high of 4.5% in November 2025. Yet inflation remains a nagging issue: According to the Federal Reserve…
It adds another potentially dicey economic variable for Republicans and President Donald Trump, who blasted the decision Wednesday and accused the governors of trying to hurt him politically. Chair Kevin Warsh, who was nominated by Trump, emphasized after the announcement that the economy has shown signs of gathering speed since the central bank decided to…
The prices of precious metals, particularly gold, came under pressure at the end of last week as investors increased their expectations of a U.S. Federal Reserve rate hike at its upcoming policy meeting. Meanwhile, trade figures from China highlighted a sharp rise in Russian gold entering the country through Hong Kong. As global markets continue […]
Bitcoin has struggled to break above $81,000 as investors turn their attention to the Federal Reserve’s September meeting. A stronger-than-expected U.S. jobs report has changed expectations about interest rates and added fresh uncertainty to the cryptocurrency market. The transaction volume on exchanges like Coinbase Global Inc. (NASDAQ: COIN) after the Fed meeting will offer an… […]
"I am writing to request information regarding reports my office received of a recent outage of the Federal Reserve's National Information Center, which hosts critical data for the Fed' s bank supervision, discount window, and other functions." Senator Elizabeth Warren, Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent Federal…
Treasury yield has breached 5%, a threshold not seen in five years, and that structural shift in real rates now hinges on whether the Federal Reserve signals an extended tightening cycle or hints at eventual flexibility. The Federal Reserve is widely expected to deliver a 25- basis point increase at Wednesday's decision, matching the ECB's move from last week.
Diesel prices topped $6 a gallon in Richmond and other parts of Virginia on Friday, while inflation ticked up because of rising costs for energy and housing, setting the stage for a likely increase in interest rates by the Federal Reserve Board. The average price of regular unleaded gasoline exceeded $4.12 a gallon in Richmond and statewide because of higher…
Treasury bond yields have climbed to 4.96%. To learn more about short-term Treasury bills and longer-term bonds, the market and impact on consumers, UVA Today reached out to Rodney Sullivan, the executive director of the Mayo Center for Asset Management at the University of Virginia's Darden School of Business. Treasury is the largest issuer in the U.S. bond…
Federal Reserve Chairman Kevin Warsh dislikes giving any guidance about the likely path of U.S. interest rates, but elevated inflation, oil at more than $100 a barrel, and his own emphasis on the need to deliver price stability and to pay attention to signals from financial market pricing appear to leave little doubt about what's next. The U.S. central bank will…
