President Donald Trump at the 2024 Bitcoin Conference in Nashville, TN. The Washington Post via Getty Images The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others
President Donald Trump at the 2024 Bitcoin Conference in Nashville, TN. The Washington Post via Getty Images The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others
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Mortgage market conditions presented over the past two years have muted the effectiveness of the monetary policy tightening by saving $600 billion for homeowners, accounting for about 2% of personal consumption spending since 2022, according to a report by two Swiss Re Institute senior economists. “A dollar not spent on mortgage payments is a dollar
When JPMorgan Chase (JPM) told investors this month about a possible Consumer Financial Protection Bureau enforcement action targeting bank-owned payments app Zelle, it also offered a warning to those same regulators. The New York banking giant said it was evaluating whether to sue the CFPB over the Zelle inquiries, according to a quarterly filing made
By Michael S. Derby (Reuters) – Federal Reserve holdings of mortgage bonds play a “central” role in how monetary policy affects the economy’s momentum, academics wrote in a paper to be presented at a central bank research conference Saturday. The paper takes stock of how the Fed uses increases and contractions in its holdings of
Mortgage rates are all over the place today — there hasn’t been a clear shift upward or downward since yesterday. For example, Zillow data shows that the average 30-year fixed mortgage rate is down five basis points at 6.01%, the 20-year fixed rate hasn’t changed and sits at 5.69%, and the 15-year fixed rate increased
Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. Nvidia (NVDA) earnings are in focus after Federal Reserve Chairman Jerome Powell said at Jackson Hole that “the time has come” for Fed rate cuts. ↑ X NOW PLAYING Nvidia Earnings Are A Key Test For The Stock Market Rally.
The Federal Reserve is poised to cut its benchmark interest rate next month from its 23-year high, with consequences for consumers when it comes to debt, savings, auto loans and mortgages. Right now, most experts envision three quarter-point Fed cuts — in September, November and December — though even steeper rate cuts are possible. “The
Ken Leech, the longtime Western Asset Management chief investment officer, left that role amid probes from the Justice Department and Securities and Exchange Commission into whether some clients were favored over others in allocating gains and losses from derivatives trades. Leech, who manages some of the largest bond strategies in the US, will take an