Reserve

Chances of a Federal Reserve rate cut fade as inflation worsens

by

WASHINGTON — The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans’ finances: Higher interest rates. Longer-term interest rates have risen quickly since the war began Feb. 28, pushing up the cost of mortgage loans, auto loans, and business borrowing. And with inflation measures … Read more

Justice Department found no evidence of a crime in Federal Reserve renovation project, prosecutor admits

by

The Justice Department’s investigation of a $2.5 billion renovation project at the Federal Reserve didn’t find any evidence of a crime, a federal prosecutor privately conceded under questioning by a skeptical judge earlier this month, according to a transcript of the sealed hearing. That admission by Assistant U.S. Attorney Andrew Massucco came during a March … Read more

Federal Reserve holds interest rates steady

by

The Federal Reserve on Wednesday left its benchmark interest rate unchanged, marking the central bank’s second consecutive pause in 2026.  The Fed maintained the federal funds rate — what banks charge each other for short-term loans — in its current range of 3.5% to 3.75%. The decision to keep rates steady was widely expected by … Read more

Federal Reserve could signal no interest rate cuts this year in wake of Iran war

by

WASHINGTON — A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays … Read more

Iran war is making it harder for the Federal Reserve to cut interest rates

by

Americans eager for lower borrowing costs may have a long wait ahead of them. The Iran war is complicating the picture for the Federal Reserve, which is set to meet on March 18 for its next interest rate decision. Economists had predicted the Fed would hold its benchmark rate steady on Wednesday, but many had penciled … Read more