Fed Chair Jerome Powellis scheduled to hold a press conference following the Fed's announcement, where he will take questions on the central bank's plans for rate cuts or pauses at meetings to come. FED'S FAVORED INFLATION GAUGE SHOWED PRICE GROWTH CONTINUED TO SLOW IN SEPTEMBER ...
“The Fed’s announcement that it will ‘soon be appropriate’ to raise interest rates is a clear sign that a March rate hike is coming,” noted Michael Pearce, senior U.S. economist at Capital Economics. “The Fed’s plans to begin running down its balance sheet once rates begin to ri...
The European Central Bank’s interest rate cut Thursday “ends what has been one of the most aggressive and swift rate hiking cycles in modern times,” said Lindsay James, investment strategist at Quilter Investors, in the wake of the announcement. “The starting gun has been fired.” James...
Interest rate market risk faced by China’s commercial banks is increasing after the announcement that the interest rate marketisation is completed. This paper examines the Value-at-Risk, and statistical properties in the daily price return of Shanghai banks’ overnight offered rate. The study appl...
In response to a question about additional rate hikes, Powell noted the removal of a sentence that appeared in the Fed's previous rate hike announcement in March that said "some additional policy increases might be appropriate." Powell described the omission in the announcement on Wednesday as...
taking the central bank’s base rates to 5%. The news came unexpectedly to the market, which predicted a 60% chance of a 25 basis point hike. In reaction to the announcement, the British pound sterling dropped against the dollar. Similarly, the UK gilt yields slipped, and the 10-year yi...
Fed rate decision's impact on stocks Although the Fed was widely expected to leave the federal funds rate unchanged, stocks jumped after the announcement as investors cheered the bank's outlook for three cuts in 2024. The S&P 500 gained 0.7% in afternoon trading, while the Dow Jones Industria...
Federal Reserve interest rate cut effect The Federal Reserve's interest rate cut announcement has already affected the prices of some mortgage rates and credit card interest rates. CBS MoneyWatch associate managing editor Aimee Picchi reports. ...
Fed Chairman Jerome Powell "will undoubtedly acknowledge progress on growth and inflation and may well characterize the runway for a soft landing as widening," noted David Kelly, chief global strategist at J.P. Morgan Asset Management in an email before the announcement. ...
The latest announcement shows that the Fed has declared its intention to gradually decrease the amount of bonds it's currently selling off from its balance sheet, ultimately culminating in the cessation of the process known as "quantitative tightening." ...