White House on PCE Inflation Increase: 'Nice to Hit the Expectations' -- Expect 'Bumpy Path Down' to Target Rate
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Fed leaves interest rates unchanged amid inflation rate higher than 2% target
May 1 (UPI) — The Federal Reserve Wednesday voted to keep interest rates unchanged, in line with expectations as inflation remains above the central bank’s 2% threshold. The Federal reserve’s Federal Open Market Committee said in a statement that the central bank left interest rates for overnight bank borrowing within a range of 5.25%-5.5%. With CPI inflation at 3.5%, the […] The post Fed leaves interest rates unchanged amid inflation rate higher than 2% target first appeared on Gephardt Daily.
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Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.
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Inflation in swing states is lower than the national average
Inflation in several battleground states in the 2024 election is below the national average — in some cases by more than a full percentage point — as food prices retreat even while housing costs stay hot, according to an analysis of regional Labor Department data by The Hill.