The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.

The average rate on 30-year fixed home loans from Freddie Mac decreased again to 6.77% for the week ending June 26.

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The Fed report suggests that a higher prime rate is causing, at least in part, growth in card interest rates. The prime rate remained stable at 7.5% throughout the first quarter. But it is still much higher than it was during the beginning of the 2020s, when it wasn’t uncommon to see the benchmark rate fall between 3.25% and 5.5%.

The Federal Reserve doesn’t set mortgage interest rates, and in recent cycles mortgage rates seemed to blow off the Fed. But if there’s clearer consensus that rate cuts are coming, mortgage rates could drop. That would be welcome news for home buyers ...

The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.

Interest rate increases hit homeowners where it hurts most – their monthly budget. While Federal Reserve decisions might seem abstract, their impact on