Finance

Fed hits pause on interest rate cuts for now

Published

4 months ago

January 30, 2025

Business Finance News

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Fed holds on further interest rate cuts. (iStock)

Interest rates will stay higher for longer as the Federal Reserve pauses further interest rate cuts to give inflation room to drop closer to its 2% target rate.

The Federal Reserve held interest rates at 4.5% to 4.75%, prompted by strong economic indicators that gave the central bank more room to wait. Federal Reserve Chair Jerome Powell said at a press conference on Wednesday that the Fed intends to remain cautious about additional rate cuts so long as the job market remains solid and prices continue to climb.

“Over the course of our three previous meetings, we lowered our policy rate by a full percentage point from its peak,” Powell said. “That recalibration of our policy stance was appropriate in light of the progress on inflation and the rebalancing in the labor market. With our policy stance significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance.”

Gross domestic product (GDP) grew at an annual rate of 2.3% in the fourth quarter of 2024, slightly lower than the expected 2.6% growth rate. In December, annual inflation increased to 2.9%, rising modestly above the 2.7% annual inflation rate of the previous month, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). The labor market is stable, and unemployment is low, at 4.1% in December.

“The nation’s economy continues to be resilient against long-term economic setbacks, which means that the Fed is in no imminent need to continue its rate cuts,” CoreLogic Chief Economist Selma Hepp said. “And with the economic activity expected to remain robust and continue to post a 2%+ growth rate, the case for further monetary loosening in the coming months is increasingly less compelling.”

If you’re worried about the state of the economy, you could consider paying down high-interest debt with a personal loan at a lower interest rate. Visit Credible to speak with a personal loan expert and get your questions answered.

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Mortgage rates likely to remain elevated

Interest rates are likely to remain untouched until the second half of the year, which could delay relief for homebuyers, according to David Sober, the SVP of Enterprise Business Development at Voxtur Analytics.

“Interest rate reductions [are] not expected until the second half of the year,” Sober said. “This keeps the housing economy in an extended period of malaise, with affordability at its lowest point in memory. Independent mortgage banks will continue to dominate the mortgage market due to the ability to offer more innovative ways to buy homes. It will be a pleasant surprise if mortgage rates dip to 6% in 2025.”

One bright spot is that the incoming President Donald Trump administration could spur more substantial economic growth and, therefore, higher incomes, giving Americans more buying power. Moreover, lower household tax rates are anticipated to boost disposable household income even if incomes don’t rise, according to the Realtor.com Housing Forecast.

Beyond those scenarios, Hepp said home builders continue to add more new homes to supply and are offering rate buydowns on new construction, keeping those sales strong.

Homebuyers can find competitive mortgage rates by shopping around and comparing options. You can visit an online marketplace like Credible to compare rates with multiple lenders at once.

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What higher rates mean for your wallet

President Donald Trump said in a speech to economic leaders at the World Economic Forum in Davos, Switzerland earlier this month that he would “demand that interest rates drop immediately.” Powell declined to comment on the speech but said the Trump administration had not contacted him.

“As the economy evolves, we will adjust our policy stance in a manner that best promotes our maximum employment and price stability goals,” Powell said. “If the economy remains strong and inflation does not continue to move sustainably toward 2%, we can maintain policy restraint for longer.”

Consumers who may have anticipated a more aggressive rate reduction policy in 2025 will have to wait longer for relief from the high borrowing costs incurred during the rate increases that the Fed implemented in recent years to combat inflation.

“While inflation concerns have significantly abated, they still remain,” Michele Raneri, vice president and head of U.S. research and consulting at TransUnion said in a statement. “As a result, it is quite possible that there will be fewer rate cuts over the course of next year than anticipated only a few months ago. Consumers should continue to monitor their own credit scores and credit reports to make sure they are in the best possible position to act when rates do come down.”

Using a personal loan to pay off high-interest debt at a lower rate could help you reduce your expenses and put money back in your wallet. You can visit Credible to find your personalized interest rate today.

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Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

Finance

Amazon is selling an $800 portable power station for $550, and shoppers 'love the mobile design and durability'

Published

9 hours ago

June 14, 2025

Business Finance News

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.

There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.

Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon

The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.

Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.

Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”

Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”

You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.

Finance

Amazon is selling a 'high-quality' $525 Citizen Eco-Drive watch for $260, and buyers love its 'useful functions'

Published

13 hours ago

June 13, 2025

Business Finance News

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.

The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.

Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon

While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.

With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.

Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”

Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”

The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.