Tag: interest rates
Trump’s Fed Nominee Has “Far Out Ideas,” But Criticism of the Fed is Important
Stephen Moore, Trump’s new nominee for the Federal Reserve Board, has some wacky ideas, but is correct about the need to keep interest rates low, says CEPR’s Mark Weisbrot Subscribe to our page and support…
Ocasio-Cortez & Sanders Introduce Bill to Cap Credit Card Interest Rates at 15%
They call it Loan Shark Prevention, which would allow post offices to act as banks for poor working people, but credit companies claim it will hurt the poor Subscribe to our page and support our…
Trump’s China Trade War Increases Risk of Recession
Trump accuses China of currency manipulation because their currency devalued in the wake of his tariffs. However, as Bill Black explains, this accusation has no basis in fact. Instead, Trump’s trade war only increases the…
Fed Comes to its Senses, Lowers Interest Rate
After causing almost every recession of the past several decades, the Federal Reserve is lowering interest rates before a recession takes hold. This represents an important shift in the Fed’s policy, says CEPR’s Mark Weisbrot…
Stock Market Gyrations Signal Serious Trouble Ahead
Although the connection between the stock market and the general economy is not as close as it used to be, we are overdue for a recession and so the recent stock market upheaval is a…
How rising interest rates are affecting Americans
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to…
President Biden announces plan to increase American manufacturing jobs
During President Biden’s remarks today on the September jobs market, he took questions on why sentiments among Americans about the economy may not reflect what the strength this month’s data yields. Biden also announced more…
Could a housing market recession be looming?
The lack of housing supply in the United States is related to the ongoing spikes in interest rates. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News to explain the mortgage “lock-in effect,”…
U.S. unemployment at lowest level in 8 months; no interest rate change expected in near future
Unemployment claims in the U.S. are at their lowest level in about eight months, with first-time applications falling by 13,000 last week to 198,000. Victoria Guida, an economics policy reporter for Politico, joined CBS News…
