Fed, DOJ and interest rate
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A DOJ probe involving Fed Chair Jerome Powell has sparked fresh questions about the Fed’s next move. Here’s what it could—or couldn’t—mean for interest rates.
At their December 9-10 meeting, Fed officials agreed to cut their key interest rate by a quarter point for the third time this year, to about 3.6%, the lowest in nearly three years.
Officials at the central bank have splintered over whether rising unemployment or elevated inflation poses the bigger economic risk.
Mortgage Research Center. Rates averaged 5.22% for a 15-year financed mortgage and 5.92% for a 20-year financed mortgage Related: Compare Current Refinance Rates 30-Year Refinance Rates Drop 1.35%
See how low your current mortgage rate offers are here now.
Lowering interest rates is not a matter of a single decision, as it risks disrupting the overall economic balance, Finance Adviser Salehuddin Ahmed said today.