Mortgage Rates Decrease, Boosting Housing Market

**CNBC: A Leader in Business News** CNBC, the Consumer News and Business Channel, is a premier global business news organization that has been a cornerstone of financial and business journalism for over three decades. Founded on April 17, 1989, CNBC's roots trace back to the Satellite Program Network (SPN), which later became Tempo Television before its relaunch under NBC's guidance[1][2]. Initially, it faced challenges gaining cable carriage due to competition from the Financial News Network (FNN), but following FNN's bankruptcy in 1991, CNBC acquired its operations and expanded its reach significantly[1]. **Key Achievements and Current Status** CNBC has grown exponentially, offering 23 hours of live programming daily across the U.S., Europe, and Asia. It operates a 24/7 digital platform, direct-to-consumer products, and a vibrant events business. Today, CNBC is the world's leading business news media company, reaching over 450 million consumers monthly[4]. It has been recognized for award-winning journalism and has been the first network to broadcast from the New York Stock Exchange floor. **Notable Aspects** - **Diverse Programming**: CNBC offers a wide range of programming, from business news to entertainment-focused shows like "Shark Tank" and "American Greed" through its CNBC Prime block[5]. - **Global Bureaus**: With more than 20 bureaus worldwide, CNBC provides comprehensive coverage of global business trends. - **Innovative Digital Presence**: CNBC's digital operations are robust, offering real-time news and analysis through its website and mobile apps. As CNBC continues to evolve, it remains committed to its founding promise of making business news accessible and relevant to a broad audience[4]. Its legacy as a leader in business journalism has been cemented through its dedication to quality reporting and innovative storytelling.

## Overview and Mission The Federal Reserve, often called the "Fed," is the central bank of the United States, established by Congress in 1913 to provide the nation with a safer, more flexible, and stable monetary and financial system[1]. Its mission centers on a dual mandate from Congress: to promote maximum employment and maintain price stability, ensuring the dollar retains its value over time[1]. The Fed operates through a unique hybrid structure, combining a national Board of Governors in Washington, D.C., with 12 independent regional Reserve Banks, including institutions like the Cleveland Fed[1]. This decentralized setup allows the Fed to closely monitor economic conditions across diverse regions, industries, and communities, while maintaining independence from short-term political influences[1]. ## Key Functions The Fed’s responsibilities are broad and vital to the U.S. economy. It conducts monetary policy—primarily by influencing interest rates—to achieve its employment and inflation goals[2]. The Fed also supervises and regulates banks to ensure the safety and soundness of the financial system, works to minimize systemic risks, and fosters efficient payment and settlement systems[2]. Additionally, it promotes consumer protection and community development, addressing emerging issues through research, supervision, and enforcement of consumer laws[2]. ## History and Evolution The Federal Reserve is the third central bank in U.S. history, following two failed attempts in the 19th century[1]. Its creation was a response to the financial turbulence of the early 20th century, aiming to prevent crises and stabilize the economy. Over time, the Fed has evolved, adopting more transparent and inclusive policymaking processes. For example, it now conducts regular reviews of its monetary policy framework, engaging with academics, businesses, and the public to refine its strategies and communications[3][5]. ## Recent Developments and Achievements In 2025, the Fed completed its second major review of its monetary policy strategy, tools, and communications, reaffirming its commitment to transparenc