Federal Reserve – Jobber Wiki

Credit card debt among Americans at all-time high

26Mar

By Jobber WikiNo Comments

Business

Credit card debt among Americans at all-time high

Credit card debt among Americans at all-time high - CBS News Watch CBS News Credit card debt among Americans is nearing the trillion-dollar mark. And with the recent interest rate hike, Americans can look forward to higher interest rates. Tanya Rivero has the latest. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

US Durables Orders Decline While Equipment Demand Edges Up

24Mar

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Business

US Durables Orders Decline While Equipment Demand Edges Up

Orders for all durable goods declined unexpectedly in February, even as business equipment demand ticked up.Bookings for all durable goods — items meant to last at least three years — fell 1% in February after plunging 5% in the prior month, Commerce Department figures showed Friday. Excluding transportation equipment, durable goods orders were unchanged. Source link

U.S. government steps in to shore up deposits at Silicon Valley Bank and another failed institution

13Mar

By Jobber WikiNo Comments

Business

U.S. government steps in to shore up deposits at Silicon Valley Bank and another failed institution

The U.S. government announced Sunday that it is deploying emergency measures to shore up the banking system and backstop deposits at two banks that failed within a matter of days.All deposit accounts at both institutions, Silicon Valley Bank and Signature Bank in New York, will be guaranteed, according to a joint statement released by the Federal Reserve, the Department of the Treasury and Federal Deposit Insurance Corporation (FDIC).Depositors with SVB "will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," the statement said. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was clos...

Federal Reserve Jerome Powell says Fed may need to accelerate rate hikes

7Mar

By Jobber WikiNo Comments

Business

Federal Reserve Jerome Powell says Fed may need to accelerate rate hikes

The Federal Reserve may need to increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Federal Reserve Chair Jerome Powell said Tuesday in prepared testimony to a Senate panel."The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated," Powell said in the testimony to the Senate Banking Committee. Powell's comments raise the possibility that the Fed will increase its key interest rate by a half-percentage point at its next meeting March 21-22, after having carried out a quarter-point hike in early February. Over the past year, t...

U.S. consumers undeterred by inflation, new numbers show

26Feb

By Jobber WikiNo Comments

Business

U.S. consumers undeterred by inflation, new numbers show

U.S. consumers undeterred by inflation, new numbers show - CBS News Watch CBS News Although U.S. inflation continues to remain high, it's not stopping Americans from spending on everything from everyday essentials to pricey vacations. A Commerce Department report released Friday found that consumer spending rose 1.8% in January. Michael George has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Federal Reserve issues 8th consecutive interest rate hike

1Feb

By Jobber WikiNo Comments

Business

Federal Reserve issues 8th consecutive interest rate hike

Federal Reserve issues 8th consecutive interest rate hike - CBS News Watch CBS News As it continues efforts to combat inflation, the Federal Reserve on Wednesday increased interest rates by a quarter-point. In a statement, the Fed said that further hikes are likely. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Treasury takes “extraordinary measures” as U.S. hits debt ceiling

20Jan

By Jobber WikiNo Comments

Politics

Treasury takes “extraordinary measures” as U.S. hits debt ceiling

Treasury takes "extraordinary measures" as U.S. hits debt ceiling - CBS News Watch CBS News The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

High interest rates hoping to ease inflation hinder home buyers

15Dec

By Jobber WikiNo Comments

Business

High interest rates hoping to ease inflation hinder home buyers

High interest rates hoping to ease inflation hinder home buyers - CBS News Watch CBS News The Federal Reserve raised interest rates again as it tries to ease inflation. Tanya Rivero takes a look at what it means for the housing market. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Strong job numbers report could signal additional rate hikes from Federal Reserve

4Dec

By Jobber WikiNo Comments

Business

Strong job numbers report could signal additional rate hikes from Federal Reserve

Strong job numbers report could signal additional rate hikes from Federal Reserve - CBS News Watch CBS News With the Labor Department on Friday reporting stronger November job numbers than expected, the Federal Reserve could react with yet another interest rate hike in an effort to curb inflation. Skyler Henry has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Retail Sales Unchanged in September as Consumers Spend More on Clothing, Food and Health Care | Economy

14Oct

By Jobber WikiNo Comments

News

Retail Sales Unchanged in September as Consumers Spend More on Clothing, Food and Health Care | Economy

Retail sales held steady in September, the Census Bureau reported on Friday.The number, not adjusted for inflation, compares to a 0.4% increase in August, which was revised upward from the earlier estimate of 0.3%.Year over year, retail sales increased 8.2%.Leading the rise were sales of groceries, clothing and health and personal care items.Analysts had expected sales to increase by 0.2%.Retail analysts say that consumers have been switching their spending habits as inflation, now running at an annual rate of 8.2%, takes a bigger bite out of everyday purchases like food, gasoline and medicine.The Federal Reserve, meanwhile, has been driving up the cost of credit, with mortgage rates now double what they were a year ago.Surveys by private firms who track spending through credit card sal...