For Rhode Island, the advent of a rate cut comes at a time when the unemployment rate has gone up while the labor market is seeing fewer jobs available for workers. Meanwhile, the housing market has registered record prices for homes amid elevated mortgage rates and limited supply of homes in the market. Get Rhode…
Good afternoon. Here’s what you need to know to end your day. Stocks in Asia rallied after the Fed opted for an outsized rate cut to ensure a soft landing, while a gauge of regional currencies rose to a 14-month high. The Nikkei 225 climbed more than 2% as the yen slid. Source link
Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further interest-rate reductions this year. The Bloomberg Asia Dollar Index rose 0.2% on Thursday, bringing the gauge to the highest since July 2023. The Indonesian rupiah and South Korean won led the gains,…
SHANGHAI (Reuters) – China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll showed, after the Federal Reserve’s outsized interest rate cut removed some of the risks around sharp yuan declines. Monetary policy divergence and a weakening Chinese yuan have been the key constraints limiting Beijing’s efforts…
By Lewis Krauskopf and Davide Barbuscia NEW YORK (Reuters) – One of the most consequential Federal Reserve meetings in recent history has put investors’ focus squarely on one question: whether the central bank has kicked off its rate cutting cycle in time to keep the economy from slowing too rapidly. The Fed delivered a 50…
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Alex Gabriel Simon, an equities reporter in Mumbai, where it’s all bright and sunny this morning. That’s a fitting backdrop for Indian stocks, which are…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. The Fed went for it. The first cut to the benchmark fed funds rate in four years was a big one of 50 basis points. Market pricing had moved in the last few days to imply that there was a slightly better…
The dollar rose in the aftermath of the Federal Reserve’s supersized rate cut, with traders waiting for decisions from the UK and Japanese central banks over the next 24 hours to assess their combined impact on markets. The greenback gained against virtually every major currency after the Fed delivered a half percentage point rate cut,…
WASHINGTON, DC – SEPTEMBER 18: Federal Reserve Chairman Jerome Powell speaks during a news … [+] conference following the September meeting of the Federal Open Market Committee on September 18, 2024 in Washington, DC. (Photo by Anna Moneymaker/Getty Images) Getty Images The focus for weeks on the Federal Reserve’s rate cut today has been on…
The Federal Reserve signaled Wednesday it would lower interest rates two more times this year after it slashed its benchmark federal funds rate by 50 basis points to a range of 4.75%-5.0% at the conclusion of its meeting on Wednesday. Fed officials see the fed funds rate coming down to 4.4% in 2024. That suggests…