Tuesday, September 26, 2023
Americans will be forced to adapt to a new normal where savers benefit from higher rates, but borrowers face steeper debt payments on everything from credit cards to mortgages to student loans.
“Whether the Fed does or doesn’t raise rates further in the coming months, the high rates are here to stay for awhile,” said Greg McBride, chief financial analyst at Bankrate.
Policymakers voted during their policy-setting meeting to leave interest rates unchanged at a range of 5.25% to 5.5%, the highest level since 2001. But officials also opened the door to another quarter-point increase before the end of the year – and indicated they will hold rates at those elevated levels for an extended period...Read more and see video here.
Newsom, who is expected to attend Wednesday's GOP debate on behalf of the Biden campaign, brushed off allegations of Hunter Biden's corrupt business dealings last week, saying it is "hardly unique" for people to use their family members to get ahead.
"I don't know enough about the details of that. I mean I've seen a little of that," Newsom told CNN's Dana Bash when asked if Hunter Biden did anything "inappropriate" leveraging his father's name in his business dealings. Read more, see video and emails here.



