www.foxbusiness.com Open in urlscan Pro
151.101.2.132  Public Scan

Form analysis
2 forms found in the DOM

GET /search

<form autocomplete="off" action="/search" method="get">
  <fieldset><input aria-label="Search foxbusiness.com" type="text" placeholder="Search foxbusiness.com" name="q" onblur="" onfocus="" autocomplete="off" value="" class="resp_site_search"> <input type="hidden" name="ss" value="fb"> <input
      aria-label="Submit Search" type="submit" value="Search" class="resp_site_submit"></fieldset>
</form>

GET /search

<form autocomplete="off" action="/search" method="get">
  <fieldset>
    <div class="input-wrap quote-lookup"><input value="" type="text" placeholder="Quote Lookup" name="q" onblur="" onfocus="" autocomplete="off" aria-label="quote lookup" class="input-text"> <input type="hidden" name="ss" value="fb"> <input
        type="submit" aria-label="submit" value="Search" class="input-search"></div>
  </fieldset>
</form>

Text Content

Fox Business
 * Personal Finance
 * Economy
 * Markets
 * Watchlist
 * Lifestyle
 * Real Estate
 * Tech
 * TV
 * Podcasts
 * More

Expand / Collapse search
Login
Watch TV
Menu
Personal Finance
 * Mortgages
 * Student Loans
 * Credit Cards
 * Personal Loans
 * Savings
 * Insurance
 * 401k
 * Retirement
 * Tax Planning

Economy
 * Government Spending
 * Money & Policy
 * Small Business
 * Inflation

Markets
 * Stocks
 * US Markets
 * Cryptocurrency
 * Futures & Commodities
 * Bonds
 * ETFs
 * Business Leaders
 * Industries
 * Retail
 * Pre-Markets
 * Mutual Funds

Watchlist
Lifestyle
 * Entertainment
 * Rich & Famous
 * Travel
 * Cars
 * Airplanes
 * Food & Drinks
 * Arts

Real Estate
 * Personal
 * Commercial
 * Luxury Properties

Tech
 * Digital
 * Social Media
 * Gadgets
 * Business Tech
 * Healthcare Tech
 * Future Tech
 * AI
 * Space

Sports
 * NFL
 * NBA
 * MLB
 * NASCAR
 * Boxing
 * Soccer
 * Golf
 * Tennis

Opinion
Shows
 * Mornings with Maria
 * Varney & Co
 * Cavuto: Coast to Coast
 * Making Money with Charles Payne
 * The Claman Countdown
 * Bulls & Bears
 * The Evening Edit
 * Kennedy
 * Strange Inheritance with Jamie Colby
 * Maria Bartiromo's Wall Street
 * WSJ at Large with Gerry Baker
 * Barron's Roundtable

About
 * Channel Finder
 * Jobs
 * Terms of Use
 * Updated Privacy Policy
 * FAQ
 * Media Relations
 * Corporate Information
 * Closed Captioning Policy
 * Accessibility Statement
 * Fox News
 * Fox Nation
 * Fox Business Go
 * Apps & Products

 * Facebook
 * Twitter

Fox Business
 * New Terms of Use
 * New Privacy Policy
 * Your Privacy Choices
 * Help
 * Closed Captioning Policy

Quotes displayed in real-time or delayed by at least 15 minutes. Market data
provided by Factset. Powered and implemented by FactSet Digital Solutions. 
Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

This material may not be published, broadcast, rewritten, or redistributed.
©2023 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy

Personal Finance
Published March 23, 2023 8:41am EDT


FED FORGES AHEAD WITH 25 BASIS POINT INTEREST RATE INCREASE, SIGNALING RESOLVE
TO BATTLE INFLATION


DISINFLATION IS HAPPENING, BUT THE ROAD TO 2% INFLATION WILL BE LONG AND BUMPY,
FED CHAIR SAYS

 * Facebook
 * Twitter
   
 * Print
 * Email

By Nora Colomer Sponsored by Credible - which is majority owned by Fox
Corporation. Credible is solely responsible for the services it provides.

The Federal Reserve raised interest rates again but said it's unsure whether it
will need to raise them again at its next meeting in May. (iStock)

At its latest meeting, the Federal Reserve announced another 25 basis point
interest rate increase and put to rest speculation about whether the storm
brewing in the U.S. banking sector would cause the central bank to ease up on
its monetary policy. 




The rate hike brings the federal funds rate to a targeted range of 4.75% to 5%,
the highest level in 15 years. 

The impact of recent bank failures on the economy and consumer spending will
likely determine how the Fed will proceed at future meetings.

"Since our previous FOMC meeting, economic indicators have generally come in
stronger than expected, demonstrating greater momentum in economic activity and
inflation," Federal Reserve Chair Jerome Powell told reporters at a press
conference. "We believe, however, that events in the banking system over the
past two weeks are likely to result in tighter credit conditions for households
and businesses, which would, in turn, affect economic outcomes."



Until the impact is known, Powell said that the Fed might proceed with a further
rate increase to reduce inflation.

"We no longer state that we anticipate that ongoing rate increases will be
appropriate to quell inflation," Powell continued.   

The Fed's restrictive monetary policy has been cited as a key culprit behind the
recent failures of Silicon Valley Bank (SVB) and Signature Bank. 



Many in the market had predicted that the Fed would raise rates by 25 basis
points to show its resolve to reach a 2% inflation target rate. Any less would
have signaled that the Fed was more focused on its role as the banker's bank,
according to Dana Grigg, Founder of Camelotta Advisors.



"The Fed is trapped in a quandary between their ability to raise interest rates,
given the banking situation, and their credibility at fighting inflation," Grigg
said.

If you're looking to save money amid high inflation, you could consider
refinancing your private student loans to a lower interest rate, reducing your
monthly payment. Visit Credible to compare multiple student loan lenders at once
and choose the one with the best interest rate for you.




HOUSEHOLD BILLS COST AMERICANS 42% OF THEIR SALARY: SURVEY


MORTGAGE RATES DROP OVER INTEREST RATE UNCERTAINTY

Mortgage rates dropped last week because of the bank failures and their tie-in
to interest rates. The average rate for a 30-year fixed-rate mortgage dropped to
6.6% for the week ending March 16, according to Freddie Mac, down from
the previous week when it averaged 6.73%.  

The decrease in mortgage rates has helped buoy home purchases, which have seen
muted activity so far this year. Sales of existing homes increased 14.5% to an
annual rate of 4.58 million homes in February, according to the National
Association of Realtors. 



Home prices, however, saw a minor shift, with the median prices dropping only
0.2% from the previous year to $363,000. With rates still fluctuating between 6%
and 7%, affordability continues to be an issue for many homebuyers. 

According to Candor's Data and Analytics department, the average first-time
mortgage payment is now $2,247.95 per month, compared to $1,661.74 at the same
time last year. However, the average mortgage amount rose slightly from $330,000
to $336,000.



"The higher payment is due to the Fed's insistence on keeping the cost of
lending artificially high," Thomas Showalter, CEO of Candor Technologies, said.
"The Fed's actions to raise interest rates continue to hamper the ability of
both the trillion-dollar mortgage industry to operate and the average household
to afford to buy a house."



If you are interested in taking advantage of lower mortgage rates, you could
consider refinancing your loan to lower your monthly payment. Visit Credible to
find your personalized interest rate without affecting your credit score. 



RETIREMENT PLAN BALANCES DECREASED BY NEARLY 25% IN 2022


DISINFLATION IS STILL HAPPENING, FED SAYS

Powell told reporters at the press conference that disinflation is still
happening but said that the road to getting inflation back down to 2 percent
still had a long way to go and was "likely to be bumpy."



February's Consumer Price Index (CPI), a measure of inflation, came in at 6%,
showing that inflation is moderating since hitting a record high last June.
However, Powell noted that the strength of CPI readings this year shows that
inflation pressures continue to run high.

"The fact that the Federal Reserve has decided to once again raise rates, albeit
only 25-basis points, serves as further evidence that despite the consideration
warranted to other real-time financial developments, and some positive signs in
recent inflation reports, the Fed believes work remains to be done," Michele
Raneri, TransUnion's vice president and head of U.S. research and consulting,
said. 

For consumers, that means even higher borrowing costs, particularly in
industries such as mortgage and credit cards, Raneri said. 




"In this high-interest rate environment, consumers are advised to continue
paying down as much higher interest debt as they can, continue paying bills on
time and work to keep their personal financial and credit profiles as strong as
they can be," Raneri continued.

If you are struggling amid high inflation, you could consider taking out a
personal loan to help pay down debt at a lower interest rate, lowering your
monthly expenses. Contact Credible to speak to a loan expert without affecting
your credit score.



MOST AMERICANS SUPPORT BIDEN'S STUDENT LOAN FORGIVENESS PLAN, SURVEY SAYS



Have a finance-related question, but don't know who to ask? Email The Credible
Money Expert at moneyexpert@credible.com and your question might be answered by
Credible in our Money Expert column.




MARKETS

DOW JONES FUTURES
(I:DJI)
33,462.00
+2.00 (+0.01%)
NASDAQ FUTURES
(I:COMPX)
13,207.25
-94.50 (-0.72%)
S&P 500 FUTURES
(INX)
4,124.75
-13.00 (-0.32%)

Market Update sponsored by


Advertisement

Advertisement

Advertisement

Advertisement




Personal Finance
 * Mortgages
 * Student Loans
 * Credit Cards
 * Personal Loans
 * Savings
 * Insurance
 * 401k
 * Retirement
 * Tax Planning

Economy
 * Government Spending
 * Money & Policy
 * Small Business
 * Inflation

Markets
 * Stocks
 * US Markets
 * Cryptocurrency
 * Futures & Commodities
 * Bonds
 * ETFs
 * Business Leaders
 * Industries
 * Retail
 * Pre-Markets
 * Mutual Funds

Watchlist
Lifestyle
 * Entertainment
 * Rich & Famous
 * Travel
 * Cars
 * Airplanes
 * Food & Drinks
 * Arts

Real Estate
 * Personal
 * Commercial
 * Luxury Properties

Tech
 * Digital
 * Social Media
 * Gadgets
 * Business Tech
 * Healthcare Tech
 * Future Tech
 * AI
 * Space

Sports
 * NFL
 * NBA
 * MLB
 * NASCAR
 * Boxing
 * Soccer
 * Golf
 * Tennis

Opinion
Shows
 * Mornings with Maria
 * Varney & Co
 * Cavuto: Coast to Coast
 * Making Money with Charles Payne
 * The Claman Countdown
 * Bulls & Bears
 * The Evening Edit
 * Kennedy
 * Strange Inheritance with Jamie Colby
 * Maria Bartiromo's Wall Street
 * WSJ at Large with Gerry Baker
 * Barron's Roundtable

About
 * Channel Finder
 * Jobs
 * Terms of Use
 * Updated Privacy Policy
 * FAQ
 * Media Relations
 * Corporate Information
 * Closed Captioning Policy
 * Accessibility Statement
 * Fox News
 * Fox Nation
 * Fox Business Go
 * Apps & Products

 * Facebook
 * Twitter
 * RSS

Fox Business
 * New Terms of Use
 * New Privacy Policy
 * Your Privacy Choices
 * Help
 * Closed Captioning Policy

Quotes displayed in real-time or delayed by at least 15 minutes. Market data
provided by Factset. Powered and implemented by FactSet Digital Solutions. 
Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

This material may not be published, broadcast, rewritten, or redistributed.
©2023 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy