The annual credit card interest rate in the United States is roughly the equivalent of the monthly credit card interest rate in Brazil.
Millennials are facing more student loans than ever before. Interest rates are high. Loan principals are even higher. Even those with good jobs are struggling to pay their monthly minimums.This is bad for a lot of reasons, one of which is that people in their 20s are not investing nearly as much as they should.
Additional policy measures -- beyond monetary policies -- are vital to make a durable exit from the global financial crisis and to safeguard financial stability. Crisis legacies need to be addressed. The traction of monetary policies must be increased with complementary reforms and financial excesses need to be contained.
Salter says people get credit for their age by waiting, but with lower interest rates and compounding growth, it makes more sense to take it today than wait for an uncertain future.
Low interest rates were supposed to be a short-term crutch, but have instead become the staple of a years-long feast for the 1 percent. It's time for the Fed to end the festivities, remove the crutch and let the partiers take their losses so we can move forward as a nation, all 100 percent of us.
A live price quote is believable. A price that is not live, for any of the reasons given below, is not believable. Yet many borrowers shopping for a mortgage select lenders on the basis of price quotes that are not live.
For most of its history, the Federal Reserve has been dominated by bankers and orthodox economists, who kill the recovery at the first sign of inflationary risks. Happily, the Fed today is led by Janet Yellen, a very uncharacteristic Fed chair who spent most of her career as a labor economist, of all things. Yellen is aware of the changes in the structure of labor markets and is unlikely to jump the gun on raising rates, though it's always possible that she could be outvoted. The risk today is not that an improving jobs picture will set off inflation. It's that even tight labor markets, by themselves, will not generate enough pressure for wage increases, because workers have lost so much bargaining power.
The Federal Reserve Board is openly mapping out an actual job-killing strategy and drawing almost no attention at all for it. The Fed's job-killing strategy centers on its plan to start raising interest rates, which is generally expected to begin at some point this year.
In an attempt to reverse the slump in China's money supply growth, the People's Bank has just reduced its benchmark interest rates for the second time in three months. A wise move.
GOP presidential aspirant and former neurosurgeon Ben Carson had an interesting idea about bank loans when asked about rising interest rates and the national debt, at a closed-door gathering of Americans for Prosperity at the South Carolina Tea Party Coalition Convention.
You know the old expression "Be careful what you wish for; it may actually come true"? Well, somewhere there are a bunch of early-1980s economists who may now be regretting what they wished for 35 years ago.
CD accounts can still be useful and beneficial financial tools, though. With higher rates than traditional checking and savings accounts, on average, these accounts are great when trying to grow a set amount of funds, on the side, for a future expense or goal.
Low oil prices have already been used to justify an interest rate cut, as well as a delayed and, presumably, reworked federal budget. With such a convenient scapegoat at hand, you can bet it won't be long before low oil prices will be made to shoulder even more blame.
When you're shopping for a home, it's best to stay aware of mortgage trends and in close touch with your lender.
Upper middle class and wealthy people usually don't just lounge on a beach day-after-day. High-powered careers and job changes often accompany financial success. More and more these days, the ability to get that next job can include having a solid credit history.
The housing market has shown massive improvement, nearing pre-recession values around the country; still, less people are willing to buy and choose to rent instead. This can be attributed to the much smaller percentage of first-time buyers.