Photo of Jerome Powell

Fed Sees Rates Near Zero Through 2023, Perhaps Longer

WASHINGTON — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and probably even longer. F...
Photo of Jerome Powell

Fed Cuts Rates a 3rd Time This Year but Signals Likely Pause

WASHINGTON — The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats. But it hinted that it won't likely cut again this year. The Fed's move reduces th...
Photo of Federal Reserve Board Chair Jerome Powell

What the Fed’s Rate Cut Means for You

The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans' personal finances, experts say. That's because th...

How a Credit Card Loan’s Fast and Easy Cash Can Cost You

Credit card companies want to turn your unused credit line into cash that you can borrow for things like home improvements or unexpected expenses. But accepting this loan offer may not be the best choice for your wallet or your credit score. In recent month...
Photo of a home surrounded by snow in Natick, Mass.

US Mortgage Rates Post Biggest Drop in Decade to 4.06%

WASHINGTON — Purchasing a home just became a lot cheaper, thanks mostly to the Federal Reserve's decision last week to put its interest rate hikes on hold for now. Mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate mortgage plunged...