America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight.

‘The time has come’: The Fed just sent a crucial message about its next move

CBS News

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  It may be hard to believe now, but it wasn't that long ago that mortgage interest rates were near historic lows. On August 27, 2020, the average rate on a 30-year loan was 2.91%. One year later, it had dropped even further to just 2.86%. However, as the pandemic and influencing economic factors waned, inflation rose dramatically and by June 2022 it was at a 40-year high. Interest rates soon followed, and by August 2023, the average mortgage interest...

Here's when mortgage interest rates could fall below 6%

Markets Insider

Stocks could see a 1995-like rally after the Fed cuts rates, said Wells Fargo's head of global investment strategy.

Stocks will embark on a run of gains unseen in 30 years after the Fed cuts rates, Wells Fargo strategy chief says

CBS Minnesota

Federal Reserve Chair Jerome Powell said "the time has come" for the central bank to adjust its monetary policy, signaling that rate cuts could soon lower borrowing costs for American consumers and businesses.Powell, who spoke at an annual conference of central bankers in Jackson Hole, Wyoming, didn't disclose specifics about when a rate cut could arrive, or its size, although economists have penciled in a reduction at the Fed's September 18 meeting. The federal funds rate now stands in a range of 5.25% to 5.5%, its highest level in 23 years. In conveying that the Fed is likely to start cutting...

Fed Chair Jerome Powell signals "time has come" for interest rate cuts

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Kisha Walker

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Missing Grandmother Partially Found With Her Leg Dangling Out of The Mouth of A Massive Crocodile

Virginia State

The husband of Mamta Kafle Bhatt, a 28-year-old Virginia mother who has been missing for over three weeks, is accused of killing her inside their home and dragging her body outside, court documents obtained by CNN affiliate WJLA show.

Husband of missing Virginia mom is accused of killing her in their home then dragging her body outside, court documents show

As much of the US continues to experience very high levels of Covid-19 activity, government officials announced on Friday the return of programs to offer free tests, vaccines and treatments to see the nation through the winter respiratory virus season.

Free Covid tests, treatments will return to help the country cope over fall and winter, US officials announce

Former Trump White House press secretary Stephanie Grisham spoke at the Democratic National Convention about what Donald Trump was like behind closed doors and what led her to leave the White House.

Grisham reveals what Trump is like when cameras are off

It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars.

Subway announces a new price for footlongs as it enters the value menu wars

Several prisoners in a Russian maximum security penal colony have seized employees of the colony, Russian state news agency TASS reported Friday.

ISIS-affiliated inmates kill four prison officers at Russian penal colony

Coffee County, GA

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Daily Coffee Press

Last week, two individuals from Coffee County were charged with trafficking methamphetamine following a search at a residence on Willacoochee Highway. On August 13, detectives with the Coffee County Drug Unit conducted an operation involving Charles Black, which led to a search of his residence on Willacoochee Highway. According to the report, Black left his residence before the warrant was served and was subsequently detained.

Two Charged with Trafficking Methamphetamine After Search in Coffee County

South Carolina State

Florida State

Akeena

Recent data from the U.S. Census Bureau reveals a significant trend: Florida is experiencing a substantial outflow of residents. According to the latest figures, over 275,000 individuals left Florida for other states in 2022.

Florida Sees Surge in Departures as Hundreds of Thousands Move Out

Pennsylvania State

Allentown, PA

CNN’s Gary Tuchman speaks with undecided voters in Allentown, Pennsylvania after Kamala Harris’ closing speech at the Democratic National Convention. 

These undecided voters said Kamala’s speech made up their mind. Hear why

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Kiplinger

Sentiment turned cautious ahead of Fed Chair Powell's highly anticipated speech Friday at the Jackson Hole Economic Symposium.

Stock Market Today: Stocks Drop Ahead of Powell's Jackson Hole Speech

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  Over the last three years, average mortgage rates have almost doubled. On August 19, 2021, the average 30-year fixed rate was 2.86%. By comparison, today's average 30-year mortgage rate is 6.57%. This uptick in rates has made purchasing a home less affordable for many buyers.  In addition, home prices have hit record highs this year, putting the possibility of homeownership out of range for many.That said, on a positive note, mortgage rates have fallen more than half a percentage...

Will mortgage rates drop below 6% this fall? Experts weigh in

New Jersey State

Bridgeton, NJ

The Bridgeton Police Department in New Jersey is looking to identify a woman who climbed over the wooden fence surrounding the tiger enclosure at Cohanzick Zoo. According to authorities, the visitor put her hand through the wire enclosure and was almost badly hurt.

Watch: Woman climbs over zoo fence to touch Bengal tiger

New York Post

Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool.

The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”

In July, the policymakers kept their benchmark rate at 5.3%, a near-quarter-century high, where it’s stood for more than a year.



Wall Street traders had already considered it a certainty that the Fed will...

Most Federal Reserve officials ready to cut rates in September if inflation keeps cooling

Vice President and Democratic presidential nominee Kamala Harris spoke directly to Americans with political views different than hers in her speech during the last night of the Democratic National Convention in Chicago. 

Kamala Harris has a message for Americans with different political views

"The time has come for policy to adjust," Fed Chair Jerome Powell said at Jackson Hole, Wyoming, all but confirming an interest-rate cut in September.

Americans just got the biggest confirmation yet of an interest-rate cut next month — but the job market hangs in the balance

NewsBreak

Powell just suggested interest rate cuts are coming. What everyone wants to know now

After a grueling two years of high inflation and elevated interest rates, Americans are finally set for some relief: Federal Reserve Chair Jerome Powell on Friday...

Powell just suggested interest rate cuts are coming. What everyone wants to know now

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