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The department, citing high default rates, is reducing interest rates on federal student loans by up to one percentage point for two years.
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The futures market now sees at least one interest rate increase this year, as the Federal Reserve's new leader, Kevin Warsh, vows to fight inflation.
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Stock futures rise as Fed hints at possible rate hike in 2026; Kospi hits over 9,000 for the first time: Live updates CNBCCNBC Daily Open: Losing the dot plot CNBCMorning Bid: Warsh debut raises rate-hike stakes ReutersTrump Picked Warsh for Rate Cuts, US Markets Got the Opposite Yahoo Finance
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Businesses looking for any relief from the cost of debt were left wanting more Wednesday.
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Nine of 19 officials who participate in Fed policy meetings penciled in at least one interest rate increase by year end, up from zero in March. It was Kevin Warsh's first as Fed chair.
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