Treasury yields edged higher on Tuesday, extending a global bond sell-off and threatening to raise borrowing costs for millions of Americans. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.78%, up from 4.75% late Monday and the highest level since January 2025. The yield on the 2-year Treasury, which closely tracks…
Federal Reserve Chairman Kevin Warsh reaffirmed the central bank’s commitment to lowering consumer prices, acknowledging that inflation remains too high in a highly anticipated speech in Jackson Hole, Wyoming. During remarks at the Fed’s annual conference, Warsh said that recent government data shows inflation has cooled, but “they do not tell me that underlying trends…
Washington — Federal Reserve Governor Lisa Cook defended herself against allegations from the Trump administration that she made misrepresentations on mortgage documents, arguing in a new letter that she has “never committed mortgage fraud.” In the letter to the White House dated Wednesday, Abbe Lowell, Cook’s lawyer, said that attempting to fire Cook on the…
The Personal Consumption Expenditures index — the Federal Reserve’s preferred inflation measure — held at a 3.7% annual pace in July, slightly higher than forecasted and reflecting persistent cost pressures for consumers. Economists polled by FactSet had predicted a 3.6% annual increase. Wednesday’s report instead showed that inflation remained unchanged from June. PCE tracks changes…
What a difference a day can make for monetary policy. On Thursday, interest rate futures were decidedly tilted toward the Federal Reserve hiking its benchmark rate in September, according to CME FedWatch, which tracks traders to forecast the central bank’s policy decisions. But after Friday morning’s dismal July jobs report, which showed that employers unexpectedly…
Mortgage rates in the U.S. hit their highest level in a year on Thursday as renewed tensions in the Middle East and the Federal Reserve’s interest rate decision this week fanned inflation concerns. The rate on a conventional 30-year mortgage averaged 6.66% in the week ending July 30, the highest level since July 2025, according to…
The Federal Reserve said on Wednesday that it is leaving its benchmark interest rate unchanged, a sign policymakers expect inflation to ebb despite higher energy costs due to the war in Iran. This marks the fifth consecutive time the central bank has held rates steady this year. The last time Fed officials voted to change…
The Federal Reserve is expected to leave interest rates unchanged at its July meeting on Wednesday, but rising oil prices have prompted investors to sharply increase their bets that a fresh rate hike could come later this year. At the start of the year, many economists expected at least one rate cut in 2026. But…
The following is the full transcript of an interview with Bank of America CEO Brian Moynihan, a portion of which aired on “Face the Nation with Margaret Brennan” on July 19, 2026. Editor’s note: This interview was taped on July 16, 2026. MARGARET BRENNAN: We’re joined now by the president and CEO of Bank of…
