The Latest Breaking News from US Federal Reserve

The Fed’s borrowing rate has a direct and immediate impact on saving rates. That means the APY on your high-yield savings account will likely fall alongside the federal funds rate. But a high-yield account is still the most attractive option for savers.

Rates now stand at a range of 4% to 4.25% as reduction comes amid concern of political pressure on independent central bank from Trump

According to the U.S. Bureau of Labor Statistics, the unemployment rate has inched up to 4.2% from a low of 3.4% last year, while monthly job gains have slowed to an average of 116,000 over the past three months, down from 251,000 in the same period of 2023.

Traders are largely expecting the Fed’s Federal Open Market Committee to lower the Fed funds rate trading range by 25 basis points.

Newly confirmed Fed governor Stephen Miran noted that moderate long-term rates are a goal.

The S&P 500 Index ($SPX ) (SPY ) today is up -0.17%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.77%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.80%. In a move that was largely anticipated by Wall Street, the Federal Reserve approved...

The Federal Reserve is widely expected to lower interest rates by 25 basis points later on Wednesday, bringing the federal funds target to 4.00%-4.25%—a policy shift that, while highly anticipated, may offer little fuel to a stock market already trading at all-time highs if history is any guide.

Moderna shares rose by over 4% on a mixed Tuesday for US equities ahead of the US Federal Reserve's rate cut decision today.

The dollar index (DXY00 ) today is up by +0.07%. The dollar is posting modest gains today ahead of the results of today’s FOMC meeting. Weakness in stocks today is boosting some liquidity demand for the dollar. Gains in the dollar are muted after the US Aug housing starts and...