Fed makes key adjustment in effort to keep rates in line
The Federal Reserve made a technical adjustment Wednesday to help ensure that its benchmark interest rate stays within the range that the central bank wants. For the second time this year, the Fed raised the rate it pays on bank...
Here’s how Fed rate hike will impact you: By Thursday, banks will have adjusted prime rates higher
With the Federal Reserve’s latest quarter-point interest rate increase (and still more likely to come), few consumers are left unscathed. The decision affects rates on all kinds of borrowing, from home mortgages to credit cards. Despite pressure from President Donald...
Fed hikes rate, lowers 2019 projection to 2 increases
The Federal Reserve on Wednesday raised its benchmark interest rate a quarter-point but lowered its projections for future hikes. As markets had expected, the central bank took the target range for its benchmark funds rate to 2.25 percent to 2.5...
My job helped me realize I needed to start saving for retirement in my 20s
“Retirement” wasn’t a word I heard growing up. My mother worked long hours and had a spending problem. My father said the stock market only benefited the rich. I assumed you dealt with retirement when you were old. That all...
Millions would be put at risk in a cashless society, research warns
The risks of moving toward a world without cash have been highlighted in a new report that claims millions of people could suffer. Several richer countries are turning away from hard cash while tech companies such as Apple are making...
SoftBank unit begins trading in Tokyo, marking Japan’s largest-ever IPO
Shares of SoftBank Corp began trading on Wednesday in Japan’s biggest-ever IPO and one of the world’s largest with shares opening 6.40 percent lower. The company is the mobile unit of billionaire Masayoshi Son’s SoftBank Group holding company, which includes...
Sell-off forces Credit Suisse to slash 2019 S&P 500 target before year has even begun
Recent wild rides in the stock market have forced Credit Suisse to cut its forecast for 2019. The bank has slashed its 2019 year-end S&P 500 price target to 2925 from 3350. The new target would be a 15 percent...
US housing starts rise; single-family segment remains weak
U.S. homebuilding rebounded in November, driven by a surge in multi-family housing projects, but construction of single-family homes fell to a 1½-year low, pointing to deepening housing market weakness that could spill over to the broader economy. The report from...
Chance of recession rises to the highest level of the Trump presidency: CNBC Fed Survey
In a sharp change toward a darker outlook, respondents to the CNBC Fed Survey have boosted the chance of recession next year to the highest level of the Trump presidency, reduced their support for the president’s handling of the economy...
China’s Xi is delivering a speech that could have major consequences for the trade war
Chinese President Xi Jinping is set to signal on Tuesday whether his idea of progress aligns with the West’s increasingly vocal demands for less state control. That could have significant consequences for whether the U.S. reaches a trade deal with...
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