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Interest rates

Banks are preparing for more loans to go bad as interest rates rise

by Justin Ho
Aug 8, 2022
They're setting aside more cash to cover delinquencies and taking closer looks at prospective borrowers.
Consumers are saving less and using credit cards more as prices and interest rates rise. Above, a person on the floor of the New York Stock Exchange watches TV screens on July 27, after the Federal Reserve raised the benchmark interest rate by three-quarters of a percentage point.
Timothy A. Clary/AFP via Getty Images
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Fed unleashes another three-quarter point interest rate in bid to curb inflation

by Associated Press
Jul 27, 2022
Attempting to curb the highest inflation in more than four decades, the Federal Reserve moved to raise its key rate to a range of 2.25% to 2.5%.
With inflation running at 9.1%, the Federal Reserve raise its key interest rate on Wednesday to the highest range since 2018. Above, Fed Chair Jerome Powell testifies before the House Committee on Financial Services in June.
Win McNamee/Getty Images
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This week's GDP number may show a shrinking economy. But that doesn't equal recession.

by Justin Ho
Jul 25, 2022
There are reasons to take a weak gross domestic product report with a big grain of salt.
Thursday’s report on gross domestic product may show a contracting economy, but recessions are typically determined by a wider range of data.
Spencer Platt/Getty Images
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Lending is strong as borrowers tap their credit

by Justin Ho
Jul 18, 2022
Banks are reporting increased lending to both consumers and businesses.
People have been spending more on their credit cards, and some are using buy-now, pay-later services, says Andrew Davidson with Comperemedia.
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Some homebuilders are dropping prices as mortgage rates rise, economist says

by Amy Scott , Richard Cunningham and Sean McHenry
Jul 14, 2022
People "desperately want to purchase," but are stepping out of the difficult market, says Ali Wolf, chief economist at Zonda.
"It's a very tricky thing because the builders are trying to drum up demand, while also trying to keep their buyers in backlog — those that have already signed a contract — happy," says Ali Wolf, chief economist at Zonda.
Chris Delmas/AFP via Getty Images
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Why the Fed's plans to shrink its balance sheet could get complicated

by Lily Jamali
Jul 12, 2022
The central bank has made its portfolio a key part of monetary policy. But the balance sheet's economic impact isn't entirely clear, experts say.
As the Fed has scooped up assets to carry out quantitative easing, some are asking: At what cost? Above, the Federal Reserve building in Washington, D.C.
Saul Loeb/AFP via Getty Images
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Flipping homes is more popular than it's been in decades, thanks to the hot housing market

by Kristin Schwab
Jun 28, 2022
But profit margins are shrinking, and the flipping boom may be coming to an end.
Rick Sharga with Attom Data Solutions said he expects to see less house flipping because it's becoming less profitable.
Stefani Reynolds/AFP via Getty Images
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Central bankers' group sees a "narrow path" to rein in inflation and maintain growth

by Mitchell Hartman
Jun 27, 2022
It's largely about preventing “inflationary psychology” from becoming entrenched, the Bank for International Settlements said.
The Bank for International Settlements warned that “inflationary psychology” could become entrenched and self-reinforcing. But the effort to douse inflation comes with risk of its own.
Fabrice Coffrini/AFP via Getty Images
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Are rising mortgage rates already cooling the hot real estate market?

by Lily Jamali
Jun 20, 2022
The number of pending sales is down from last year, but homes are still selling quickly.
Mortgage rates have doubled since a year ago to about 6%, but homes are still selling swiftly.
Frederic J. Brown/AFP via Getty Images
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Federal Reserve attacks inflation with its largest rate hike since 1994

by Associated Press
Jun 15, 2022
The central bank is raising its key interest rate by three-quarters of a percentage point.
With inflation at a 40-year high, the Federal Reserve announced Wednesday its highest rate hike since 1994. Above, Fed Chairman Jerome Powell at a press conference on May 4.
Jim Watson/AFP via Getty Images
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