Fed's Powell opens door to rate cut
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The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.
U.S. stocks are ticking higher ahead of a highly anticipated speech about where interest rates may be heading.
Follow all the developments around Federal Reserve Chairman Jerome Powell's Jackson Hole speech and analysis of what it means for the economy and your money.
While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.
"HELOC interest rates are generally structured as prime plus a margin," Debbie Calixto, sales manager at mortgage lender loanDepot, says. The federal funds rate influences the prime rate, while the margin reflects an additional percentage based on your credit score and loan details.
Japan's Ministry of Finance is preparing to ramp up the interest rate it factors in for long-term government bonds to the highest level in 17 years as it gathers in other ministries' budget requests for fiscal 2026/27,
President Donald Trump has gone on a bond buying spree since taking office, reportedly sinking more than $100 million into debt issued by big companies and municipal governments alike.