Tag Archives: rate

Federal Reserve Chairman Jerome Powell said last week that the central bank’s benchmark interest rate won’t be raised until 2023, but the news won’t be much help to car buyers. Rather than a positive note, the move signals a slow economic recovery as the U.S. continues to grapple with the …

Through the first six months of 2020, when much of the country was under shelter-in-place restrictions due to the Covid-19 pandemic, the rate of traffic fatalities jumped 20% from 2019, according to a report released Tuesday by the National Safety Council.  The estimated increase in the death rate reverses a …

The Federal Reserve stayed the course on the benchmark interest rate last week, highlighting expectations for a rough road ahead for the U.S. economy. Until the coronavirus crisis ends, the lending environment will likely remain under duress. Opportunities remain in the new-car market — but one economist says inventory challenges, …

Aggressive incentives bolstered the new-vehicle market in May, dragging down the average interest rate on a loan to its lowest level since 2013, Edmunds said. But as the parade of finance deals marched through Memorial Day, fewer buyers took the bait. The economic pressure caused by measures to slow the …

The Federal Reserve’s decision to cut the benchmark interest rate half a percentage point early this month was probably just a first step, analysts and economists say. To reduce the risk that the coronavirus will trigger a recession, analysts are predicting the rate — which directly impacts auto finance interest …