Fed meeting today: Interest-rate cuts slated as Powell wrestles with Trump’s election win, inflation questions

By Asked if he would leave the Federal Reserve at President-elect Trump’s request, Chairman Powell has a simple and emphatic answer: “No.””Do you think that legally you are not required to leave,” the same reporter asked Powell at a press conference Thursday.”No,” Powell repeated again.Later he added,” Not permitted under the law.”Trump became very critical…

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Today’s 30-year mortgage interest rates rise to 6.99% while 15-year terms climb to 6.13%

By: The median interest rate on a 30-year fixed-rate mortgage is 6.99% as of November 7, which is 0.11 percentage points higher than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.13%, which is 0.13 percentage points higher than yesterday. Federal Reserve policymakers are weighing another interest rate cut this week. According…

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