Indexes slipped Thursday as traders focused on remarks from Fed Chair Jerome Powell. Powell said the Fed is in no hurry to cut rates, and reiterated the strength of the US economy. Traders also digested wholesale inflation data, which was in line with expectations. Thanks for signing up! Access your favorite topics in a personalized…
The Federal Reserve cut interest rates by 0.25% on November 7. The labor market has softened, and year-on-year inflation rates have eased, leaving the door open for more interest rate cuts in the future. Federal Open Market Committee projections from September 2024 reflected expectations of rate cuts through the end of 2026. Federal Reserve Board…
Donald Trump is set to become America’s 47th president. The man who set off the US-China trade war in July 2018 may spell bad news for exporters. All told, that episode resulted in tariffs on US$550 billion worth of Chinese exports and US$185 billion worth of US goods. Should global investors in Chinese stocks be…
The conflicting narratives about the US economy seem to have one thing in common: extremity. There are those who argue that America isn’t just on the edge of a recession but already in one: “The Sahm rule has triggered! The ISM is below 50! Payroll employment has been revised down by nearly 1 million!” The…
The 10-year Treasury yield leaps higher … Chinese stocks surge then collapse … the war over automation isn’t over … watch Tesla’s “We, Robot” event tomorrow With the Fed now in rate-cutting mode, why are Treasury yields racing higher? As you’re aware, the Federal Reserve cut its target interest rate by 50 basis points on…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The bullish euphoria that came from the possibility of a quick return to neutral rates after the Fed’s 50 basis point cut in September has faded. But it’s been swapped with a different…
(Reuters) – Chicago Federal Reserve Bank Austan Goolsbee on Thursday said he sees a series of interest-rate cuts over the next year to year and a half, noting that inflation is now near the Fed’s 2% goal and the economy is about at full employment, and the Fed’s goal is to freeze those conditions in…
NEW YORK — U.S. stocks set records Wednesday after the latest wild swerves for Chinese stocks left few ripples in markets worldwide. The Standard & Poor’s 500 rose 0.7% to top the all-time high it had set last week. The Dow Jones industrial average climbed 1% to hit its own record, while the Nasdaq composite gained…
The upcoming inflation report will help determine the Fed’s next move. Friday’s surprisingly strong jobs data has slashed bets of a half-point rate cut. The Fed is more likely to leave rates unchanged in November if price growth is strong, UBS says. Thanks for signing up! Access your favorite topics in a personalized feed while…
September’s big payroll jump will eventually be revised down, Pantheon Macroeconomics said. A low response rate to the report is a “red flag,” the research firm said. The Fed will still deliver jumbo rate cuts to stabilize the weakening job market, the firm predicted. Thanks for signing up! Access your favorite topics in a personalized…