Fed Raises Interest Rates Second Time in Three Months

The Federal Reserve raised its benchmark rate for the second time in three months, this time to a range between 0.75% and 1%.

Fed Notes Slower Growth, Leaves Rates Unchanged

The Federal Reserve left interest rates unchanged at its latest meeting and noted the economy slowed down at the end of last year. Stocks traded lower with the DJIA down 220 points by market close.

Reuters: Prime Rates Rise Following Fed Rate Hike

Reuters reported that major U.S. banks raised their prime rates for the first time since 2006 following a rate hike from the Federal Reserve.

Bloomberg: BoA Calls for U.S./Chinese Economic Divorce

According to Bloomberg, Bank of America says a ‘great divorce’ between the economies of the U.S. and China will fuel global currency and rates markets in 2016.

Higher Interest Rates Not a Panacea for Bank Profitability

SNL Financial said new research on the U.S. bank sector indicates that higher interest rates are not a panacea for bank profitability as competition and regulation are likely to limit the benefit of rate increases.

WSJ: Investors Shed 10-Year Notes Amid Interest Rate Anxiety

The Wall Street Journal reported that the price of U.S. government debt declined for a second consecutive session, as interest rate sent the yield on the benchmark 10-year note to a one-month high.

Fed Puts December Rate Hike Firmly On Agenda

Reuters reported the Fed kept interest rates unchanged at its most recent meeting, and in reference to its next policy meeting put a December rate hike firmly in play.

Fitch: Banks Adjusting to ‘Lower-for-longer’ Interest Rate Environment

In a new report, Fitch Ratings noted that U.S. banks will continue to have their short and long-term business strategies affected by a “lower-for-longer” interest rate environment.

Fed Closer to Target Using Trimmed Inflation Measure

Bloomberg noted in a recent report that the Federal Reserve’s 2% inflation target looks a lot closer according to a price gauge favored by some policy makers.

Fed Rate Hike: Top Five Banks Could See $10B Windfall

According to an International Business Times report, if the Fed decides to raise interest rates in the near term, the top five banks in the U.S. could see a $10 billion windfall.