Fed rate hike only half story
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The Federal Reserve is widely expected to hike interest rates Wednesday as inflation stays stubbornly above the central bank's target and Treasury yields hover around 5%.
Retirees may benefit from this week’s expected interest-rate hike by earning more money on cash kept in CDs, high-yield savings accounts or money-market funds. Still, those gains may be offset by higher interest rates on credit cards and overall higher costs of living.
The White House, for now, is playing nice. National Economic Council Director Kevin Hassett told CNBC on Tuesday that he and the president would respect Fed Chair Kevin Warsh regardless of what the central bank decides to do with rates.
Rep. Meuser to Newsmax: Rate Hike 'Wouldn't Have Too Much of an Effect'
Rick Rieder, BlackRock's Global Fixed Income CIO, joins CNBC's ‘Halftime Report’ to discuss the Fed, rate hikes, the markets and more.
The Federal Reserve is widely expected to raise interest rates Wednesday, but some economists say inflation and labor-market data make the case for a hike far from clear.
BofA survey: fund managers now expect a Fed rate hike before the November midterms as inflation and jobs stay strong.