STAFF BLOG AG RIGHT Taking an interest in interest rates
I once wrote a story that looked, among other things, at how construction of new houses was crippled during the early 1980s by sky-high interest rates. Would-be borrowers faced astronomical monthly pa... Posted on 12/7/12 at 9:31 AM
The U.S. Senate is expected to vote today on a proposal to roll back the student loan interest rate that increased from 3.4 percent to 6.8 percent on July 1 because Congress didn’t pass a plan to prevent it.
Interest rates North Dakota banks and credit unions offer on products such as certificates of deposit and savings accounts are running, on average, higher than national averages, according to GoBankingRates.com – a Web site that tracks interest rates.
A Fed policy meeting Tuesday will likely focus, in part, on an evolving plan to reveal the direction of interest rates more explicitly. The Fed may decide, for example, to regularly update the public on how long it plans to keep short-term rates at record lows. The new communications strategy could be unveiled as soon as next month. The new communications strategy could be unveiled as soon as next month.
For retirees and others who need interest income, the Federal Reserve's near-zero interest rates are not so great. Those low rates alsoare unlikely to likely revive a depressed home market, energize a weak economy or reassure frightened consumers.
The Federal Reserve offered super-low interest rates for two more years today — an unprecedented step to arrest the alarming decline of the stock market and the economy. Wall Street roared its approval and finished a wild day with a 429-point gain.
Martin Crutsinger and Paul Wiseman
, August 09, 2011
If you haven't refinanced your home with the low mortgage interest rates, do it now.
That's the advice from Scott A. Anderson, senior economist at Wells Fargo, who gave a good news-bad news talk in Duluth Friday on the state of the economy.
WASHINGTON — As recently as two months ago, the Federal Reserve sounded optimistic about the economic recovery. Now the central bank is clearly more worried, and economists say there’s not much more it can do to help.
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