Wall street journal prime rate

The Federal Reserve on Wednesday announced that it raised its benchmark interest rate, as had been widely expected. This will raise borrowing costs for credit cards, auto financing, mortgages, and other loans. In a notable change to its statement, the Fed removed language indicating that it expected the economy to grow at a pace that warrants only “gradual” rate increases. Fed officials expect to raise rates two more times this year for a total of four hikes; in March, they saw three rate hikes. The Federal Reserve on Wednesday announced that it decided to raise interest rates and signaled that it would hike later this year more times than it had expected. In a two-day meeting, the Federal Open Market Committee (FOMC) voted to lift the target range for the federal funds rate by 25 basis points to 1.75%-2%. And in a few hours, several banks will respond by raising their prime … [Read more...] about Fed raises interest rates, expects 2 more hikes this year

caption Google CEO Sundar Pichai. source Getty Images More than two years ago, Sundar Pichai took the helm at Google. While Larry Page is still CEO of Google’s parent company, Alphabet, Pichai has the incredibly important job of making sure that the company’s core businesses and cash cow stay strong. So who is Pichai and how did he scale the ranks to get one of the most important jobs at one of the most important companies in the world? Here’s his story. Jillian D’Onfro contributed to an earlier version of this article. Pichai, whose full name is actually Pichai Sundararajan, grew up in Chennai, India. His father was as an electrical engineer and his mother a stenographer before having him and his younger brother. The family wasn’t wealthy, and the boys slept together in the living room of their two-room apartment. source Flickr / Ryan Source: Bloomberg, Inc. Early on, Pichai had a talent for … [Read more...] about The meteoric rise of Google CEO Sundar Pichai, in photos