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Fed Cuts Rates a Quarter Point, Powell Says Policy in Good Place

Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and signaled a pause in further cuts unless the economic outlook changes materially. The Federal Open Market Committee altered language in its statement following the two-day meeting Wednesday, dropping its pledge to “act as appropriate to sustain the expansion,” while adding […]

Credit Unions Gain Share With Bigger Risk Appetites, Dealers Say

From the February issue: Credit unions have been grabbing marketshare by dipping into lower credit scores and making more exceptions, a sampling of dealers nationwide told Auto Finance News. As a result, larger banks and other financial lending institutions are missing out on potential borrowers, dealers said. Lower Valley Credit Union and Numerica Credit Union […]

Fed Won’t Tap Brakes Until It’s Ready for a Recession

Federal Reserve watchers have spent the better part of a decade arguing about what policy normalization should look like. Last week, in response to events over the past few months, the Fed declared monetary policy more or less normalized. With the Fed seemingly out of the picture for the time being, if the economy cooperates, […]

Fed’s Dovish Pivot Flattens Remaining Rate-Hike Expectations

Chairman Jerome Powell signaled the Federal Reserve won’t raise interest rates again until inflation accelerates in a dovish pivot that left many investors betting against any further hikes in this economic expansion. Not only did central bankers drop a reference to “further gradual increases” in their statement on Wednesday, they implied the next move could […]

Used-Vehicle Values Will Climb in 2019 If Tariff Threat, Rate Hikes Persist 

December auction prices increased 4.3% year over year, bringing the Manheim Used Vehicle Value Index to 137.6, the company announced last week. “Three-year-old vehicles ended the month worth 2% more than they would normally have been worth had typical depreciation occurred instead of the abnormal appreciation observed this summer,” said Manheim Chief Economist Jonathan Smoke. Two main factors that […]
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