The federal funds rate is the interest banks charge each other for overnight loans. Set by the Federal Reserve, it's a basis for other interest rates.

The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.

The Federal Reserve's decision could potentially mark an economic milestone for Americans battling higher cost of living.

Having all but tamed inflation, the Federal Reserve is poised to do something Wednesday it hasn’t done in more than four years: Cut its benchmark interest rate, a step that should lead to lower borrowing costs for consumers and businesses.

In 2022, when the Fed realized that it had been late in addressing the inflation surge, it raised interest rates in twenty-five, fifty, or even seventy-five-basis-point increments to regain inflation control.

Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

Here is a look at the complex system that dictates federal interest rates and how rates could impact your finances. Interest rates can be considered the price of borrowing money. "Quite simply, it's the amount charged to a borrower by a lender for use of an asset,