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Keyword: interest

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  • Stock Market Today: Dow ends down over 1,100 points after Fed lowers interest rates, signals fewer cuts in 2025

    12/18/2024 3:11:09 PM PST · by lasereye · 17 replies
    Marketwatch ^ | December 18, 2024 | Isabel Wang
    U.S. stocks finished lower on Wednesday, with the Dow Jones Industrial Average posting its worst day in over four months after the Federal Reserve decided to lower its benchmark interest rate by 25 basis points but reduced its forecast for further rate cuts in 2025. The Dow fell 1,123.03 points, or 2.6%, to end at 42,326.87. The blue-chip index fell for a 10th straight session, logging its longest losing streak since October 1974, according to Dow Jones Market Data. The S&P 500 was off 178.45 points, or nearly 3%, to finish at 5,872.16. The large-cap index suffered its largest one-day...
  • Dow loses 600 points as Fed rate outlook disappoints, heads for first 10-day losing streak since ’74: Live updates

    12/18/2024 12:40:27 PM PST · by CFW · 32 replies
    CNBC ^ | 12/18/24 | Brian Evans & Lisa Kailai Han
    The Dow Jones Industrial Average sank deeper into the history books on Wednesday, with the storied index on track for its 10th straight losing day following a disappointing rate outlook by the Federal Reserve. The Dow lost 624 points, or 1.4%, on track for its worst losing streak since an 11-day slide in 1974. The 30-stock average posted a nine-day losing streak on Tuesday, its longest since 1978. The S&P 500 lost 1.5% and the Nasdaq Composite shed 1.9%. The central bank reduced its overnight borrowing rate by 25 basis points to a target range of 4.25% to 4.5%, as...
  • Instead Of Counting On The Fed To Fix Mortgage Rates, Washington Should Stop Spending

    12/11/2024 9:44:52 AM PST · by SeekAndFind · 10 replies
    The Federalist ^ | 12/11/2024 | Christopher Jacobs
    Lawmakers can help to lower long-term interest rates by getting the country’s fiscal house in order and lowering our structural deficit.Both in his first term and since the November election, Donald Trump has pointed to a rising stock market as an endorsement of his policies. He would be wise to keep his eyes focused on another key economic indicator.As the Federal Reserve started a round of interest rate reductions, mortgage rates rose again over the past two months. Coming as those locked out of ultra-low rates during the Covid panic face serious obstacles to purchasing the home of their dreams,...
  • Interest Payments Top Defense Spending For First Time In History - Thank You Kamala

    10/21/2024 10:50:15 AM PDT · by SeekAndFind · 6 replies
    Issues & Insights ^ | 10/21/2024 | Editorial Board
    SUNNY HOSTIN: Would you have done something differently than President Biden during the past four years?KAMALA HARRIS: There is not a thing that comes to mind in terms of — and I’ve been a part of most of the decisions that have had impact.Photo via Flickr by Kevin Krejci – Our National Debt – CC BY 2.0.On Friday, the Treasury Department released a report showing the kind of impact Harris is talking about. If nothing else does, it should cost her the election.The latest monthly Treasury report shows spending and revenues for the full fiscal year 2024, which ended in...
  • Yellen to Fed: Data ‘Suggests’ Further Rate Cuts Are ‘Appropriate’

    09/26/2024 5:49:05 PM PDT · by ChicagoConservative27 · 35 replies
    Breitbart ^ | 09/26/2024 | Ian hatchett
    During an interview with CNBC on Thursday, Treasury Secretary Janet Yellen responded to a question on if she thinks the Federal Reserve has rates that are too high by stating that the Fed’s members expect rates to be cut and “when you have an economy that’s growing at potential, that’s operating at full employment with inflation in the vicinity of the Fed’s target, that suggests that a more neutral stance of policy is appropriate.” CNBC Senior Economics Reporter Steve Liesman asked, “I know you think a lot about the Fed. But I also know you don’t talk a lot about...
  • Fed slashes interest rates by the biggest amount in 16 YEARS - here's what it means for you

    09/18/2024 3:05:03 PM PDT · by artichokegrower · 50 replies
    Daily Mail ^ | September 18, 2024 | Tilly Armstrong
    The Federal Reserve cut interest rates Wednesday by the biggest amount in 16 years. The 50 percentage points reduction will make borrowing money less expensive, taking some of the pressure off consumers' wallets. Today's cut brings benchmark borrowing costs down to between 4.75 percent and 5 percent.
  • Live Updates: Fed Announces Big Rate Cut

    09/18/2024 12:47:09 PM PDT · by xoxox · 31 replies
    NYT ^ | 2 min ago | NYT
    “We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.
  • Interest On U.S. Debt Tops $1 Trillion For The First Time

    09/13/2024 5:04:13 PM PDT · by ChicagoConservative27 · 22 replies
    Breitbart ^ | 09/12/2024 | John Carney
    The interest burden of the public debt of the U.S. government has topped $1 trillion already this year, the first time interest costs have crossed the trillion dollar threshold. In the first 11 months of the fiscal year, interest payments totaled $1.05 trillion, up 30 percent from a year ago, the Treasury Department said Thursday. This is the first time interest payments have ever climbed about $1 trillion. Despite claims by President Joe Biden and Vice President Kamala Harris to have addressed the U.S. budget deficit, the deficit is up 24 percent in the first 11 months of this fiscal...
  • Interest payments on the national debt top $1 trillion as deficit swells

    09/13/2024 3:08:08 PM PDT · by CFW · 13 replies
    CNBC ^ | 9/12/24 | Jeff Cox
    The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday. With the Federal Reserve holding benchmark rates at their highest in 23 years, the government has laid out $1.049 trillion on debt service, up 30% from the same period a year ago and part of a projected $1.158 trillion in payments for the full year. Subtracting the interest the government earns on its investments, net interest payments have totaled $843 billion, higher than any other category except Social Security and Medicare....
  • Interest payments on just federal government debt now exceed the entire Defense Department budget

    09/12/2024 4:53:10 PM PDT · by george76 · 22 replies
    Geller Report ^ | September 12, 2024 | Pamela Geller
    Unsustainable. The country is going bankrupt. Trump is the only path forward. CBO: Federal Interest Payments Now Exceed Defense Spending... Federal Debt: The Ticking Bomb in Your Wallet.. Grab your pay stub .. and see how much you paid in federal income tax…over 75% of that was effectively your contribution to interest on the debt .. This is where our federal government is today. It has spent so much more than it has taken in that it has racked up a $35 trillion debt. ... over 75% of that was effectively your contribution to interest on the debt last month....
  • Is It Worth It to Make Just 1 Extra Payment a Year on Your 30-Year Mortgage?

    08/17/2024 8:13:07 PM PDT · by where's_the_Outrage? · 47 replies
    The Motley Fool ^ | Aug 3, 2024 | Danielle Antosz
    If you own a home, you've probably heard the age-old advice to pay more on your mortgage so you can pay it off faster. But what happens when you don't have thousands extra to throw at your mortgage each month? There's a really simple way to pay a little extra -- by making mortgage payments every two weeks. Don't worry, you're not doubling your costs! Instead, you pay half your mortgage payment each time. It's a great strategy for sticking to a budget since many jobs pay every two weeks. And, because there are 52 weeks in a year, you'll...
  • September Rate Cut Would Thrust Fed Into Brutal Election Campaign

    08/03/2024 12:22:15 PM PDT · by MinorityRepublican · 43 replies
    The Wall Street Journal ^ | July 31, 2024 | Nick Timiraos
    By opening the door wider to an interest-rate cut in September, the Federal Reserve is on a collision course with the presidential election. For a central bank that judiciously aspires to stay above the fray of partisan politics, confronting a potential policy shift around election time amounts to a lose-lose. Delivering a rate cut ahead of the election could rile up Republicans and former President Donald Trump, but withholding a needed reduction could undermine the economy and upset Democrats. The awkward optics give extra incentive for central bank officials in the coming weeks to set expectations for and explain the...
  • Yellen’s Gimmick to Cut Interest Expenditures – Treasury QE

    07/31/2024 9:04:46 AM PDT · by delta7 · 5 replies
    Armstrong Economics ^ | 31 July 24 | Martin Armstrong
    Clinton’s Gimmick Shifting to Short-term Funding to Reduce Interest Expenditures. I wrote as a guest columnist for the Wall Street Journal back on April 19, 1995, dealing with an issue that seemed to go over everyone’s head. At the time, President Clinton (1993-2001) was able to balance the budget, and nobody seemed to understand how he managed to do that. Much of it concerned the shift in capital flows as capital poured into the United States, fleeing South East Asia. That led to the Asian Currency Crisis in 1997. US Interest rates rose sharply in 1994 which also was attracting...
  • 76% Of All Personal Income Tax Last Month Went To Servicing The $34 Trillion National Debt

    07/26/2024 1:27:51 PM PDT · by Enlightened1 · 25 replies
    X (formerly Twitter) ^ | Peter St Onge, Ph.D
    76% of all personal income tax last month went to servicing the $34 trillion national debt. How did we get here? Two men: FDR and Richard Nixon. Together, they broke the dollar. And put the American people into debt slavery. (3 minute and 46 seconds video in the link below) https://x.com/profstonge/status/1816813562771255713
  • Mortgage rates tick down, back below 7%

    06/07/2024 8:25:07 AM PDT · by SeekAndFind · 29 replies
    Yahoo Finance ^ | 06/07/2024 | Breck Dumas
    Mortgage rates dipped just under 7% this week after crossing above that threshold in the prior reading as rates remain stubbornly high, stifling the housing market. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.99% this week from 7.03% last week. The average rate on a 30-year loan was 6.71% a year ago. The average rate on the 15-year fixed mortgage also decreased to 6.29% from 6.36% last week. One year ago, the rate on the 15-year fixed note averaged 6.07%.
  • Interest on US National Debt Hits New Record

    06/06/2024 6:47:53 AM PDT · by delta7 · 19 replies
    Armstrong Economics ^ | 6 June 24 | Martin Armstrong
    Government spending has consequences. The US national debt has surpassed $34.6 trillion at the time of this writing and continues to grow every minute. America has never been in a deeper deficit. The Committee for a Responsible Federal Budget (CRFB) has reported that America was forced to pay $514 billion in the first seven months of FY2024 on interest costs alone. This means that America paid more in servicing its debt than on any other program besides Social Security ($837 billion), which is a separate problem entirely. To put it into perspective, the US shelled out $498 billion on national...
  • Wall Street Journal: Biden’s Migration Spikes Interest, Mortgage Rates

    05/13/2024 6:39:11 AM PDT · by ChicagoConservative27 · 6 replies
    Breitbart ^ | 05/12/2024 | NEIL MUNRO
    President Joe Biden’s policy of mass migration is forcing up housing inflation, so pushing up interest rates and mortgage rates, according to a report in the Wall Street Journal. Housing prices should have dropped amid the recent supply of new apartments and homes, but have “not behaved the way we thought it would,” said Austan Goolsbee, president of the Federal Reserve Bank of Chicago.. “I still think it will, but if it doesn’t, we’re going to have a hard time” bringing inflation back down to the target of 2 percent, Goolsbee told the Journal for a May 11 article.
  • Fed in a holding pattern as inflation delays approach to any soft landing

    04/30/2024 10:38:07 AM PDT · by Red Badger · 5 replies
    finance.yahoo.com ^ | Apr 29, 2024, 5:10 AM CDT | Howard Schneider
    WASHINGTON (Reuters) - Inflation showing no recent sign of slowing or narrowing in scope leaves U.S. Federal Reserve policymakers challenged this week over how to characterize their next steps even as the countdown to a contentious U.S. presidential election continues. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at its April 30-May 1 meeting, and a key judgment in the current policy statement - that inflation "remains elevated" - may have to remain in place after the pace of price increases accelerated over the first three months of the year after steadily slowing through 2023. Details...
  • Bridgewater’s Bob Prince says Fed rate-cutting hopes are ‘off track’

    04/10/2024 6:23:05 AM PDT · by Red Badger
    Financial Times ^ | April 09, 2024 | Kate Duguid
    Influential investor says US inflation and growth are not at levels where interest rates can fall Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/680c17d1-0d55-4697-aff8-7dcca8c06679?accessToken=zwAGFb2KHEZYkc9oDBfRDVVGl9Ov-H3MqMBmeQ.MEUCIEKUOo8tpYNQH1TIRs1UXW0onmSrH2MkZ28gZyBrU5T-AiEAledOG31n_SXP-FsEVXres7m4-IDthSiN4Xyky3Mv9yQ&sharetype=gift&token=c10df47e-f8fc-4ea2-a059-1720789b4224 Persistent inflation and hot US growth have left the Federal Reserve’s rate-cutting hopes “off track”, Bridgewater’s Bob Prince said on Tuesday, adding...
  • Inflation report hammers Fed rate cut bets, sends stocks sharply lower

    04/10/2024 6:30:09 AM PDT · by lasereye · 14 replies
    thestreet ^ | Apr 10, 2024 | Martin Baccardax
    U.S. inflation pressures quickened again last month, with core price pressures also rising past Wall Street forecasts, a reading that will cast further doubt on market bets for a June interest rate cut from the Federal Reserve. The headline consumer price index for March was pegged by the Commerce Department at 3.5%, rising from the prior month's tally of 3.2% and coming in ahead of Wall Street's 3.4% consensus forecast. On a monthly basis, inflation edged 0.4% higher, matching the 0.4% gain in February but also coming in ahead of Wall Street's 0.3% forecast. So-called core inflation, which strips out...