Current:Home > MyThe Daily Money: Rate cuts coming soon?-InfoLens
The Daily Money: Rate cuts coming soon?
View Date:2024-12-23 14:08:46
Good morning! It’s Daniel de Visé with your Daily Money.
The Fed’s long-awaited interest rate cut, a move that’s likely to juice the U.S. economy and stock market, may be just weeks away.
The Federal Reserve stood pat on interest rates Wednesday but signaled it could start cutting as soon as mid-September, amid easing inflation and a cooling job market.
"The economy is moving closer to the point where it will be appropriate to reduce our policy rate," Fed Chair Jerome Powell said at a news conference. "That time is drawing near. That time could be in September if the data support that."
Here's our full report.
The latest on student loan forgiveness
Keep a sharp eye on your email inbox in the coming days and weeks, student loan borrowers. Buried amongst the spam mail and coupons may be the latest information on debt forgiveness.
The Biden administration has taken its next steps toward a solution for borrowers after the president's initial forgiveness plan was struck down in the Supreme Court in June 2023, Mary Walrath-Holdridge reports. The new initiative could provide relief for millions of Americans.
Here are the details.
📰 More stories you shouldn't miss 📰
- CrowdStrike sued by shareholders
- A strong quarter for Meta
- Why Lululemon pulled its leggings
- These states don't tax retirement income
- The rise of crypto ETFs
🍔 Today's Menu 🍔
"All you can eat" is a mixed blessing. You won't overspend, but you may overeat.
For better or worse, all-you-can-eat pancakes are back at IHOP.
The breakfast restaurant chain is launching the promotion just in time for back-to-school season to "help families when schedules are tight and wallets are pinched from shopping," Gabe Hauari reports.
The deal runs through September 15.
Here's all you should know.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
veryGood! (51992)
Related
- High-scoring night in NBA: Giannis Antetokounmpo explodes for 59, Victor Wembanyama for 50
- Little League World Series championship game: Time, TV channel, live stream, score, teams
- Ten-hut Time Machine? West Point to open time capsule possibly left by cadets in the 1820s
- Women working in Antarctica say they were left to fend for themselves against sexual harassers
- Manhattan rooftop fire sends plumes of dark smoke into skyline
- 4 troopers hit by car on roadside while investigating a family dispute in Maine
- Failed jailbreak for man accused of kidnapping, imprisoning woman, officials say
- At least 7 shot in Boston, police say
- LSU student arrested over threats to governor who wanted a tiger at college football games
- Workers exposed to extreme heat have no consistent protection in the US
Ranking
- Why Game of Thrones' Maisie Williams May Be Rejoining the George R.R. Martin Universe
- How Simone Biles captured her record eighth national title at US gymnastics championships
- What to stream this week: Indiana Jones, ‘One Piece,’ ‘The Menu’ and tunes from NCT and Icona Pop
- Nightengale's Notebook: Cody Bellinger's revival with Cubs has ex-MVP primed for big payday
- Republican Rep. Juan Ciscomani wins reelection to Arizona US House seat
- Korea’s Jeju Island Is a Leader in Clean Energy. But It’s Increasingly Having to Curtail Its Renewables
- Bella Hadid criticized Israel's far-right security minister. Now he's lashing out at her
- Spanish soccer chief says he'll fight until the end rather than resign over unsolicited kiss
Recommendation
-
Get $103 Worth of Tatcha Skincare for $43.98 + 70% Off Flash Deals on Elemis, Josie Maran & More
-
Tropical Storm Idalia: Cars may stop working mid-evacuation due to fuel contamination
-
Many big US cities now answer mental health crisis calls with civilian teams -- not police
-
The Ukraine war, propaganda-style, is coming to Russian movie screens. Will people watch?
-
Former West Virginia jail officer pleads guilty to civil rights violation in fatal assault on inmate
-
Oregon Republican senators sue to run for reelection, saying walkout rule shouldn’t stop them
-
Q&A: Ami Zota on the Hidden Dangers in Beauty Products—and Why Women of Color Are Particularly at Risk
-
Some experts see AI as a tool against climate change. Others say its own carbon footprint could be a problem.