What seemed unfathomable just six months ago -- a 75-basis-point rate hike by the Federal Reserve -- has now happened twice in a row.
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US home prices continued to surge higher in March, as buyers raced to lock in homes before the average mortgage rate hit 5%.
Asian shares are mostly higher after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year. Shares rose in Hong Kong, Shanghai Australia and Taiwan but fell in South Korea and Malaysia. Tokyo was closed for a holiday. The U.S. central bank indicated it may start raising
Fed slashes rates to near zero, eases bank lending rules
The Federal Reserve will cut interest rates by a half-percentage point in its first emergency rate cut since the Great Recession in response to the spreading coronavirus.