The Federal Reserve Board has reduced its target lending rate by one-quarter of a point for the second time this year, with a third cut planned for December, Chairman Jerome Powell announced. +

Under pressure from the White House and troubling inflation reports, the Federal Reserve Board voted to reduce its target lending rate by a quarter-point to 4% to 4.25%. +

Each of the six manufacturers reporting monthly U.S. sales to the Automotive News Data Center says volumes were up on a year-over-year basis in July, led by a 19.9% increase for Toyota. +

The governors of the Federal Reserve have decided to maintain a target lending rate of 4.25% to 4.5% for a fifth consecutive meeting under mounting White House pressure. +

The Federal Reserve maintained its 4.25% to 4.5% target rate for a fourth consecutive meeting, but the board remains committed to making two quarter-point cuts or one half-point cut by year’s end. +

Chairman Jerome Powell says the Federal Reserve will not reduce its target lending rate, holding at 4.25% to 4.5% as evolving economic and trade policies make future conditions difficult to predict. +

Citing low unemployment and “solid” market conditions, the Federal Reserve Board held firm to its 4.25% to 4.5% target lending rate, extending a pause that began in January following a series of quarter-point cuts. +

U.S. auto dealers sold 697 franchises in an all-time record of 438 transactions last year, according to Kerrigan Advisors’ year-end Blue Sky Report, a 10% increase from 2023. +

The U.S. Bureau of Labor Statistics reports the annual rate of inflation fell from 3% in January to 2.8% in February on a year-over-year basis, slightly below the forecasted rate of 2.9%.+

Few of the leading economists surveyed by Wolters Kluwer expect the Federal Reserve to announce an interest rate cut at its March meeting as inflation shows few signs of abating in 2025. +