US Economy News Today: Don't Hold Your Breath For Interest Rate Cuts This Week
The Federal Open Market Committee, the central bank’s policy body, is likely to leave the fed funds rate unchanged when it wraps up its two-day meeting on Wednesday. The Fed will also likely send the message that it plans to keep squeezing inflation and the economy with high interest rates for longer until inflation is under control.
Affluent Americans are driving U.S. economy and likely delaying need for Fed rate cuts
One result of the Fed’s higher rates has been a kind of bifurcated economy, by age. Older, wealthier Americans who already own homes and cars have been much less affected by the Fed’s rate hikes. By contrast, younger Americans are enduring a combination of expensive home prices and high mortgage rates, making it much harder to buy a first home.
Affluent Americans are driving US economy, likely delaying need for Fed rate cuts
Much of their spending is going toward higher-priced services like travel, health care and entertainment, thereby putting further upward pressure on those prices — and on inflation.
Could the Fed cut interest rates based on this week’s economic data?
The Federal Reserve will be watching jobs and unemployment numbers, as well as a manufacturing index and other private sector reports.
Will mortgage rates rise after this week's Fed meeting?
The Federal Reserve is set to meet again, with the potential for mortgage rate changes high. Here's what to know.
The Fed Won’t Cut Rates This Week. Focus on Balance Sheet Plans.
The Federal Reserve’s policy committee will confer on Tuesday and Wednesday, with officials likely to confirm a cautious and gradual approach to changing interest rates in 2024. The Fed’s balance sheet plans may get more attention.
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