Last fiscal year, the interest expense on U.S. debt was $950 billion, up 35% from the prior due mostly to higher rates.

Looking ahead, the Fed expects to make further rate cuts— possibly another 0.50% in 2024 and 1.0% more in 2025. Additionally, the Federal Reserve now expects the unemployment rate to rise to 4.4% in 2024, and inflation to come down to 2.3%.

JPMorgan Chase CEO Jamie Dimon has downplayed the Fed's recent interest rate cut. In reality, rate cuts have the potential to change a lot of people's financial situations. Rate cuts are expected to continue, and they're likely to make borrowing less expensive but limit the amount of interest savers can earn.

Mortgage rates dropped before the Fed’s last meeting, and have risen more than 50 basis points since. If you’re wondering why, you’ll need to look at the 10-year Treasury bond yield.

The bond market is growing less convinced by the day that the Federal Reserve will embark on two further interest-rate cuts this year.

The Fed’s decision to cut interest rates in September prompted a debate, according to the minutes of that Federal Reserve board meeting.

The Federal Reserve began cutting interest rates in September 2024, and Fed leadership communicated that more cuts would be likely in the remainder of 2024 and into 2025.

The Fed’s decision to opt for a bigger rate cut wasn’t without its controversy, according to minutes from its September meeting. While the move to lower rates by half a percentage point was approved by a majority of the 12 voting members,

But if you're hoping the Fed's rate cuts will lead to cheaper groceries and gas, you may need to reset some expectations. In reality, those rate cuts aren't likely to lower the co