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Banking Fed's interest rate pause

Fed’s interest rate pause

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Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

Federal Reserve Chairman Jerome Powell is sending a message to investors: The Fed’s benchmark short-term interest rate will likely stay low for a long time. The Fed has cut its key rate three times this year to a range of just 1.5% to 1.75%. And the word from Powell is that the rate will likely remain unchanged for now: Though he’s signaled that the Fed won’t further ease credit unless the economy deteriorates, he’s also set a high bar for any rate hikes. Powell said at a news conference last month that

there would have to be a “really substantial move up in inflation” for the Fed to consider raising rates. In the past, the Fed has boosted rates to try to avert an acceleration in inflation. And in testimony to Congress last week, the chairman said, “I think the new normal now is lower interest rates, lower inflation and probably lower growth.” That leaves the Fed’s benchmark rate at a historically low level, particularly with the unemployment rate at just 3.6%. The last time unemployment was below 4%, the Fed’s key rate was 6.5%.

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Latest News

Initial public offerings to debut next week include sporty Texas offering

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Encore Bank announces DFW expansion; names Fort Worth president

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Southside Bancshares to ring NASDAQ opening bell on Monday, Sept. 28

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Texas Rangers and Comerica Bank team up to help woman-owned and minority-owned small businesses

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Powell: Many small companies can borrow without Main Street

By CHRISTOPHER RUGABER AP Economics WriterWASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that many mid-size U.S. businesses are now able...