Battle lines are being drawn at the Federal Reserve over an interest rate cut in December, as key policymakers stake out their positions both in favor and opposed to a cut. While a December cut was seen as a virtual certainty a month ago, financial and betting markets now rate the probability as a virtual … Read more
Job growth in the private sector made a surprise surge last month, raising doubts about whether the Federal Reserve will continue cutting interest rates in December. Companies added 42,000 jobs in October, more than expected and the first monthly payroll growth since July, according to data released by payroll processor ADP on Wednesday. With federal … Read more
The Federal Reserve’s interest rate cut this week was widely expected, but Fed Chair Jerome Powell’s comments afterward included surprises that are poised to send mortgage rates higher. After Fed policymakers voted to cut the benchmark rate by a quarter point, Powell told reporters that another rate cut in December is “far from” certain, acknowledging … Read more