Scott Bessent, US treasury secretary, in the Oval Office of the White House in Washington, DC, US, on Wednesday, Aug. 6, 2025.The search for the next Federal Reserve chair is continuing, with Treasury Secretary Scott Bessent taking point in meeting with several candidates on President Donald Trump's short list.In recent days, Bessent has met with former Fed officials Lawrence Lindsey, Kevin Warsh and James Bullard, a Treasury source told CNBC's Steve Liesman. Lindsey and Warsh both served as governors and B ...

Al Drago / Bloomberg via Getty Images A Fed panel is set to decide whether to lower interest rates, but it's not clear who will vote. Key Takeaways Less than a week before the Fed's policy committee is set to vote on interest rates, the makeup of the 12-person body is undecided. Key questions are whether Fed Governor Lisa Cook will remain on the committee despite President Donald Trump's attempts to fire her, and whether the Senate will confirm a Trump nominee to join the FOMC. Wednesday's meeting wi ...

The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve next week. The long-term rate eased to 6.35% from 6.5% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.2%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate slipped to 5.5% from 5.6% last w ...

The U.S. Consumer Price Index (CPI) rose 2.9% in the 12 months through August, as per expectations. In contrast, the figure rose 2.7% in July. CPI rose 0.4% month-over-month (MoM) in August, against the expected 0.3%. In August, Core CPI rose 3.1% YoY as per expectations. The figure rose 0.3% MoM as expected. The CPI data is the most common metric to measure inflation. CPI inflation is now at its highest level since January 2025, which means that Americans are really feeling the pinch. A Mobil gas sta ...

NEW YORK (Reuters) - U.S. consumer prices rose more than expected in August while the annual increase in inflation was the largest in seven months, although the numbers will not prevent an interest rate cut from the Federal Reserve next week in the midst of a weakening labor market. The Consumer Price Index rose 0.4% last month after increasing 0.2% in July, the Labor Department's Bureau of Labor Statistics (BLS) said on Thursday. In the 12 months through August, the CPI advanced 2.9%, the largest increas ...

The yield on the benchmark 10-year Treasury was last unchanged at 4.032%, after falling to 4% earlier in the session. The 30-year Treasury yield meanwhile added more than 1 basis points to 4.688%, as the 2-year yield dropped roughly 2 basis points to hit 3.515%.The 10-year U.S. Treasury yield fell to 4% Thursday, then snapped back as investors assessed the latest inflation data, as well as a jump in jobless claims.The August consumer price index rose at a seasonally adjusted 0.4% increase for the month, wit ...

Consumer inflation heated up in August — accelerating slightly from a month earlier although not enough to discourage bets that the Federal Reserve will start cutting interest rates next week. The Consumer Price Index rose 2.9% in August compared to the previous year, speeding up from 2.7% in July, the Bureau of Labor Statistics said Thursday.It jumped 0.4% from the previous month, above expectations of a 0.3% increase.On a core basis, which excludes volatile food and energy prices, the CPI rose 3.1% over t ...

Markets are fully committed to a Fed rate cut this month, with CME data showing investors have priced in a 0% chance of a hold as weak labor figures and softer inflation drive dovish bets. Economists like Deutsche Bank’s Jim Reid and UBS’s Paul Donovan cautioned that while headline data supports easing, the details reveal more mixed pressures that Powell will need to weigh. There are few “sure things” when it comes to economics. And yet interest rate traders are 100% convinced a cut is coming at the Fed ...

Key Points The Federal Reserve will hold its next two-day policy meeting on Sept. 16 and 17. The Fed has yet to cut interest rates in 2025, but a deteriorating jobs market could force its hand next week. Further weakness in the economy could trigger a downturn in the stock market, even with the Fed cutting interest rates. 10 stocks we like better than S&P 500 Index › By law, the U.S. Federal Reserve is tasked with supporting a healthy jobs market, and keeping inflation under control. The central ...

NEW YORK (AP) — Wall Street’s record-setting run kept rolling on Thursday, and stocks climbed after a mixed set of U.S. data kept the path clear for the Federal Reserve to cut interest rates in order to boost the economy. The S&P 500 rose 0.8% and set an all-time high for the third straight day. The Dow Jones Industrial Average rallied 617 points, or 1.4%, and the Nasdaq composite gained 0.7%. Both also hit records. Treasury yields eased in the bond market following the economic reports, which were some ...