Finance
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Before you sign up for a store credit card, know what you’re getting into
Sep 29, 2024 5:29 am - NEW YORK — When Mykail James was 19 and working a holiday job at Victoria's Secret, she took out a store credit card with a $2,000 credit line. When her school break was...
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US debt dynamics ‘inconsistent with a AAA rating,’ Moody’s says
Sep 24, 2024 7:06 am - The next U.S. administration “must grapple with widening budget deficits,” warned Moody’s Ratings in a report published Tuesday, nearly a year after it announced a negative outlook for the country’s sovereign credit profile.
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For home shoppers, the Fed’s big rate cut is likely just a small step toward affording a homeSep 23, 2024 9:55 am - The Federal Reserve gave home shoppers what they hoped for this week: a big rate cut and a signal of more cuts to come. Even so, aspiring homebuyers and homeowners eager...
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Bank of England keeps its main interest rate on hold at 5% in wake of big US Fed rate cut
Sep 19, 2024 7:35 am - LONDON — The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the corona...
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What the Fed’s rate cut means for consumers, businesses and investors
Sep 18, 2024 2:01 pm - The Federal Reserve cut interest rates this week for the first time in four years, putting an end to its longest cycle of rate increases in roughly a decade. “This will i...
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Citadel Securities pulls back on plan to trade directly with Fed
Sep 18, 2024 10:56 am - Citadel Securities has quietly shelved plans to join one of Wall Street’s most prominent clubs: The ranks of bond dealers that trade directly with the Federal Reserve. Fo...
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Federal Reserve cuts key rate by sizable half-point, signaling end to its inflation fight
Sep 18, 2024 8:06 am - The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers.
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Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?Sep 16, 2024 7:12 am - WASHINGTON — American consumers and homebuyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this...
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Mortgage rates just fell again. Here’s what you need to know.
Sep 15, 2024 5:22 am - Mortgage rates fell on Thursday to their lowest level since April 2023 — 6.2% for a 30-year fixed-rate mortgage, down from 6.35% a week before, according to Freddie Mac.That’s a sharp drop from the high of 7.8% recorded last October and welcome news for would-be home buyers who have been priced out of the property market, as well as homeowners who bought at high rates and are eager to refinance.
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US consumer watchdog finds that school lunch fees are taking a toll on parents
Sep 14, 2024 6:00 am - NEW YORK — Single mother Rebecca Wood was already dealing with high medical bills in 2020 when she noticed she was being charged a $2.49 “program fee” each time she loade...