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The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to prove stickier than expected. However, the move also dashes hopes that the Fed will be able to start cutting rates soon and relieve consumers from sky-high borrowing costs. The market is now pricing in one rate cut later in the year, according to the CME’s
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In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. Lucas Jackson | Reuters Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Yemen’s Iranian-backed Houthis are threatening merchant ships hundreds of miles out in the Indian Ocean after striking a container vessel well beyond the Red Sea last week, maritime officials and experts have warned. The drone
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Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
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An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These loans offer lower interest rates than their fixed-rate counterparts but
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The new bipartisan bill that would provide the Federal Aviation Administration with reauthorization and $105 billion in appropriations through 2028 would also provide $19.35 billion in airport infrastructure improvement grants to fund the nation’s 3,300 airports. The 1,069 page bill is the culmination of eight hearings over the last year or more and also authorizes
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When Humza Yousaf tore up a power-sharing deal with the Scottish Greens last Thursday at Bute House, he sought to improve his nationalist party’s prospects by shifting away from the progressive policies associated with the coalition. Four days later, that political miscalculation boomeranged back on the first minister in historic fashion as Yousaf returned to
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For those of a certain age, a tune sung by The Happenings — See You in September — might resonate with regard to the Federal Reserve. Most analysts now expect the Fed to hold rates in a range between 5.25% and 5.50% until September, with some concern there will be no rate cuts this year.
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