Jerome Powell

CBS This Morning: Interest Rate Cut

Federal Reserve Bank leaders, working to prevent an economic slowdown, begin two days of meetings on Tuesday. Economists predict they will announce an interest rate cut of 25 basis points, or a quarter of a percent. It would be the second cut this year. I joined CBS This Morning to discuss how this could affect your bottom line.

Mixed Jobs Report Bolsters Fed Rate Cut Case

Mixed Jobs Report Bolsters Fed Rate Cut Case

The August report bolsters the case for another quarter-point interest rate cut when the Federal Reserve meets on September 17-18. Officials will cite the slowdown in job growth and softening manufacturing data, but will also likely reiterate that the economy remains on solid footing overall.

CBS This Morning: Impact of Rate Cut

The cost of borrowing is coming down. For the first time since the 2008 financial crisis, the Federal Reserve cut interest rates. The central bank lowered the benchmark federal funds rate by a quarter percentage point Wednesday. The decision could make it easier for consumers to borrow money, on everything from credit cards to car loans. I joined CBS This Morning with a look at what the decision means for your wallet.

How Fed Rate Cuts Impact YOU

How Fed Rate Cuts Impact YOU

For the first time in a decade, the Federal Reserve is likely to cut interest rates. Citing the “crosscurrents” of slowing global growth, uncertainty over trade policy, and static prices, the central bank will preemptively shave 0.25 percent from the fed funds rate, putting the new range at 2-2.25 percent.

More Market Milestones and Fed Do-Overs

More Market Milestones and Fed Do-Overs

Dow 27K! S&P 500 3K! NASDAQ 8200! Just months after the bull market in stocks and the current expansion each became the longest on record, U.S. equity indexes reached more milestones last week. Sure, the economy is expanding, but you can thank one person for the recent leg up in the bull market rally: Fed Chairman Jerome Powell.

Meh May Jobs Report and the Powell Put

Meh May Jobs Report and the Powell Put

Stocks reversed multi-week losses and you can thank Federal Reserve Chairman Jerome Powell. The week began with hand wringing over the potential Mexican tariffs. On Tuesday, Powell announced that the central bank was keeping an eye on trade developments, their impact on the U.S. economy, and would “act as appropriate to sustain the expansion.”

Solid Jobs Report Justifies Powell’s Case

Solid Jobs Report Justifies Powell’s Case

The government reported that the economy added a better than expected 263,000 jobs in April. It was the 103rd straight month of job growth, the longest streak on record. Nearly ten years into the expansion, job creation is 205,000 for the first four months of 2019, just above the monthly amount added since the labor market bottomed out in 2010.

Will Dovish Federal Reserve Boost Housing?

Will Dovish Federal Reserve Boost Housing?

Last week, the Federal Reserve decided not to raise interest rates. The more dovish Fed outlook pushed down interest rates, which led mortgage rates to 14-month lows. The current 30-year fixed rate loan stands at just under 4.3 percent, just in time for the spring home buying season.