Fed Slashes Interest Rates To Near Zero To Prop Up Economy Amid Coronavirus FearsThe Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase $700 billion in Treasury and mortgage-backed securities to encourage lending to try to offset the impact of the novel coronavirus outbreak.
Bay Area Home Sales DownThe red-hot Bay Area real estate market is cooling off. New data shows a continuing drop in home sales.
California High Court: Interest On Some Personal Loans Can Be Illegal In a win for consumers, the California Supreme Court ruled that interest rates on some personal loans may be so high that they are illegal under state law.
Fed Hikes Key Interest Rate For 2nd Time In 3 MonthsThe Federal Reserve has raised its benchmark interest rate for the second time in three months and signaled that any further hikes this year will be gradual.
Barclays To Pay $100 Million To Settle Charges Bank Rigged Interest RatesBarclays Bank has agreed to pay $100 million to 43 states and the District of Columbia to settle allegations it improperly set key interest rates.
Federal Reserve: Interest Rate Hike Likely In JuneFederal Reserve officials believe that a June interest rate hike is likely if the economy keeps improving.
Facebook, Google, Apple All See Big Jumps From Tuesday Stock ReboundChina is once again the prime reason for the action. The People's Bank of China finally did the expected and cut interest rates in Beijing's latest move to try and put the brakes on its own market meltdown.
Positive Economic News Met With Big Selloff On Wall StreetNew home sales surged higher by nearly 7% in April, durable goods orders rebounded with a business investment spending improving for the second straight month, a critical sign for growth, and even consumer confidence is on the rise, although that really hasn't translated into higher retail spending, in spite of lower gas prices and an improving job market.
Mobile Banking Here To Stay As More Americans Get Comfortable Banking On The GoAn annual Federal Reserve survey found that in 2014, 39-percent of adults with mobile phones used their devices for banking, compared to 33-percent in 2013.