Author: Press Room

The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year.With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers following their two-day meeting took two rate reductions off the table from the three indicated in March. The committee also signaled that it believes the long-run interest rate is higher than previously indicated.New forecasts released after this week’s two-day meeting indicated slight optimism that inflation remains on track to head back to the Fed’s 2% goal, allowing for some policy loosening later…

The Federal Reserve on Wednesday projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions.The central bank’s “terminal rate” for 2024, or the rate at which its benchmark fed funds rate will peak, went up to 5.1%, equivalent to a target range of 5%-5.25%. That means that the Fed is only forecasting one quarter-point rate cut from the current target range of 5.25% to 5.5%.The so-called “dot plot,” which indicates how 19 FOMC members, both voters and nonvoters, showed four officials in favor of no cuts this year, while seven…

Grocery prices stayed flat in May, after ticking down the month before. But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. Menu prices rose 0.4% at sit-down restaurants from April to May, adjusted for seasonal swings, according to inflation data released Wednesday by the Bureau of Labor Statistics. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The difference between grocery increases and menu price inflation was more pronounced for the full year. Grocery prices rose…

Digital Turbine (NASDAQ:APPS) financial results continue to disappoint, dragging the stock lower, despite a very low valuation. Extremely weak Q4 results were largely attributed to soft device sales and the migration of the company’s tech stack onto a consolidated platform. Digital Turbine’s performance has been poor for the past two years though, making it difficult to continue shifting blame onto the macro environment. While there is doubt hanging over the company, and a sizeable amount of debt, the equity could prove to be extremely cheap if Digital Turbine can stabilize its revenue and rein in costs. SingleTap and consolidation of…

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American intelligence officials believe that Yahya Sinwar, the powerful leader of Hamas in Gaza who is thought to be the group’s key decision-maker on any potential ceasefire deal, likely believes the group can survive Israel’s attempt to destroy it and feels confident it is well-positioned to approach negotiations from a place of strength, according to US officials familiar with recent assessments. The goal for Hamas is to survive, these sources say — that would be victory for the group. Sinwar likely believes Hamas can hold out while Israel’s global standing deteriorates as the war in Gaza, which has killed thousands of civilians, continues. A senior Biden…

Learning about services that Medicare covers, and their cost, is an important discussion topic for Medicare beneficiaries. However, there is one subject that rarely comes up: hospice, end-of-life care for the terminally ill. Many studies have shown that earlier end-of-life care can have a positive impact: reduced administration of unnecessary medications, fewer hospital admissions and less depression in survivors. As a homecare nurse, I witnessed the value of hospice care. Yet, in too many cases, it was a last-minute decision and neither the patient nor the family reaped the full benefit. Perhaps a brief Q&A can plant the seed so…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of May 10, which is 0.010 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.375%, which is 0.125 percentage points higher than yesterday.  With mortgage rates changing daily, it’s a good idea to…

The high interest rate environment has done little to dampen the appetite for credit products, a recent TransUnion report said.  The report said that in the first quarter of 2024, when counted together, consumers had more than 543 million bank cards in their wallets, an increase of 20 million year over year and more than 88 million from just three years ago. Not only do more Americans have bank cards, but they are also increasingly using their available credit, with balances growing 2.2% over last year. The average new account credit lines rose 3.8% to $5,628.Consumers also increasingly accessed cash…

Check out the companies making headlines in midday trading. Affirm Holdings – The stock popped nearly 7% following the announcement that its buy now, pay later loans will be embedded into Apple Pay as an option for purchases. U.S. Apple Pay users on iPhones and iPads will be able to use the option later this year, the company said in a filing. General Motors – The automaker’s stock added about 2% after announcing a $6 billion share repurchase program. GM also cut its 2024 EV sales forecast due to slow adoption. It plans to produce between 200,000 and 250,000 EVs…