News

Treasury Secretary Bessent wants the Fed to lower its lending rate

The current Federal Reserve interest rate is significantly higher than necessary and should be lowered, Treasury Secretary ...

Scott Bessent joins Trump in pushing Fed for lower interest rates

It's the first time that Bessent has pressured the central bank for lowering the cost of borrowing, citing weak employment ...

Bessent calls for steep interest rate cuts

Treasury Secretary Scott Bessent said Wednesday that short term interest rates should be 1.5 to 1.75 percentage points lower than their current level, keeping up the administration’s pressure ...

Home equity rates dip as hopes of a Fed September slash strengthen

This uncertainty introduces interest rate risk, especially for HELOCs with variable rates, meaning borrowing costs could ...

Fed's current monetary policy stance is 'exactly where we want to be,' official says

Kansas City Federal Reserve President Jeffrey Schmid said he favors keeping interest rates at current levels to prevent ...

TSX climbs to record peak on Fed rate cut hopes

Canada's main stock index scaled an all-time high on Wednesday, bolstered by ongoing optimism surrounding a September U.S.

Bessent urges Fed to slash rates next month, with ideal goal ‘150, 175 basis points lower’

Treasury Secretary Scott Bessent on Wednesday urged central bankers to issue a half-point cut at next month’s meeting – breaking from his zipped-lip stance on the Fed’s monetary agenda. Bessent said ...