Business

Fed raises rates, sets out plan to shrink asset holdings

Fed raises rates, sets out plan to shrink asset holdings

The announcement that the Fed plans to begin paring its balance sheet later this year - "provided that the economy evolves broadly as anticipated" - involves its enormous portfolio of Treasury and mortgage bonds. Good news: 30-year mortgage rates are still very low at about 3.9%. For mortgage-backed securities and agency debt, the Fed set an initial cap of $4 billion.



Oil slides as rising US crude, gasoline inventories surprise

The bearish report represents the first crude inventory build in several weeks and lends credit to recent sentiment over USA shale production rising at a pace that could in part offset a production cut from the Organization of the Petroleum Exporting Countries.


Amazon Offers 2% Rewards, No Credit Card Needed

Amazon Offers 2% Rewards, No Credit Card Needed

As well as already being a Prime member - which will set you back $99 per year, or $10.99 per month - you'll need to register both a debit card and a U.S. While 2 percent is not a massive amount of money, it's better than nothing, and it could be the sweetener that tips some undecided on-the-fencers into taking out a Prime subscription.



Libya and OPEC Pressure Crude Oil Prices to a 3-Week Low

Brent crude futures for July fell $1.53, or 3.0 percent, to settle at $50.31 a barrel on their last day as the front-month. U.S. West Texas Intermediate crude CLc1 futures were up 40 cents, or 0.8 percent, $48.72 a barrel. So far, the production-cut agreement has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria , and a relentless increase in USA shale oil output.


Fed raises key rate and unveils plan to reduce bond holdings

Fed raises key rate and unveils plan to reduce bond holdings

That change, and the reduction in the 2017 inflation forecast, could reduce the urgency policymakers feel to hike rates again in coming months, especially if inflation remains soft. In terms of Chinese data, industrial output numbers showed output increasing 6.5% year-on-year in May, beating expectations of a 6.3% rise and coinciding with April's respective rate.


Fed Raises Key Interest Rate For The Fourth Time Since 2015

Fed Raises Key Interest Rate For The Fourth Time Since 2015

The Fed previously raised rates in March , and on Wednesday, it signaled plans for one more rate increase this year. These caps will be raised every three months until they hit $30 billion for Treasurys and $20 billion for mortgage-backed securities.