WASHINGTON—New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment despite higher interest rates, which could keep the economy on a moderate growth path. Some of the largest gain in orders in seven months reported by the Commerce Department on Tuesday, however, reflected higher…
US Core Capital Goods Orders Surge, Consumer Confidence Rises Further
Boston Fed Chief Says ‘Higher Unemployment’ Needed to Tame Inflation
September 27, 2022
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The new president of the Federal Reserve Bank of Boston, Susan Collins, stated in her first public speech that unemployment needed to be increased to lower historically high inflation. Collins further suggested any economic downturn would likely be modest, in the Sept. 25 speech to the Greater Boston Chamber of Commerce. Her comments add to similar…
Vietnam Central Bank to Raise Policy Rates by 100 Bps
HANOI—Vietnam’s central bank announced on Thursday it would raise its policy rates by 100 basis points, in a rare monetary tightening move aimed at keeping inflation under 4 percent this year. Effective Friday, the refinancing rate will be raised to 5.0 percent and the discount rate to 3.5 percent, the State Bank of Vietnam (SBV)…
Sales of Previously Owned Homes Fell in August, as Prices Ease From Record Highs
September 22, 2022
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Sales of previously owned homes fell in August from July for the seventh consecutive month of decline, while prices declined from record highs. The annual rate of existing home sales fell 0.4 percent, to 4.80 million units, last month, the slowest pace since early in the pandemic in May 2020, according to the National Association of…
The Fed Just Predicted a Fairly Lousy Economy—and the Markets Noticed
September 22, 2022
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Commentary The Federal Reserve (Fed) announced on Sept. 21 that it raised interest rates by 75 basis points (bps), or three-quarters of a percentage point. The decision came a day after the Federal Reserve Bank of Atlanta dropped its much-watched estimate of third-quarter 2022 GDP (“GDP Now“) to just 0.3 percent on Sept. 20, after…
UK Central Bank Raises Interest Rates to 2.25 Percent, Highest Since 2008
September 22, 2022
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The Bank of England, the UK’s central bank, has announced it will raise interest rates to their highest in more than 13 years and indicated it believes the economy is already in recession. The Bank’s Monetary Policy Committee (MPC) has raised rates from 1.75 to 2.25 percent—the highest since November 2008—in an effort to control…
How to Cope With Higher Interest Rates
September 21, 2022
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For most of 2022, the financial markets have been bleeding red ink, driven by rising interest rates, high inflation, and recession fears. The Federal Open Market Committee, the policy-making arm of the Federal Reserve, raised interest rates by 75 basis points following its two-day meeting on Sept. 20–21. Based on the language coming out…
Fed Boosts Rates Again: Here’s How to Cope With Higher Interest Rates
September 21, 2022
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For most of 2022, the financial markets have been bleeding red ink, driven by rising interest rates, high inflation, and recession fears. The Federal Open Market Committee, the policy-making arm of the Federal Reserve, raised interest rates by 75 basis points following its two-day meeting on Sept. 20–21. Based on the language coming out…
What Does Fed’s Jumbo Rate Hike Mean for Your Budget
September 21, 2022
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The Federal Reserve raised interest rates by 75 basis points during its September Federal Open Market Committee (FOMC) policy meeting. After four previous increases, the benchmark fed funds rate now stands in the 3.00 percent to 3.25 target range. Economists are anticipating two more rate hikes to finish 2022, but the size might depend on…
What the Fed’s Jumbo Rate Hike Means for Your Budget
September 21, 2022
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Business & Marketseconomic policieseconomyFederal Reserveinterest ratesInvestmentLoanspersonal financeUS
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The Federal Reserve raised interest rates by 75 basis points during its September Federal Open Market Committee (FOMC) policy meeting. After four previous increases, the benchmark fed funds rate now stands in the 3.00 percent to 3.25 target range. Economists are anticipating two more rate hikes to finish 2022, but the size might depend on…
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