Jerome Powell
Markets are counting on the Fed to head off recession with sizeable interest rate cuts
Key Points In the market’s eyes, the Fed finds itself either poised to head off recession or doomed to repeat the mistakes of its recent past. “No recession today, but one is increasingly inevitable by year-end if the Fed fails to act,” said Steve Blitz, chief U.S. economist at TS Lombard. Traders are pricing in […]
Read More
10-year Treasury yield rebounds after hitting its lowest level in more than a year
Treasury yields bounced back on Tuesday as investors closely monitored a reversal of the previous day’s global market sell-off. The yield on the benchmark 10-year Treasury note traded more than 7 basis points higher at 3.855% at 7:08 a.m. ET. It comes after the yield on the 10-year Treasury note on Monday fell to its […]
Read More
Here’s everything you need to know about Friday’s big jobs report
People line up as they wait for the JobNewsUSA.com South Florida Job Fair to open at the Amerant Bank Arena on June 26, 2024, in Sunrise, Florida. Joe Raedle | Getty Images The U.S. labor market may have cooled some in July, as a gradual slowdown in the economy and Hurricane Beryl are expected to […]
Read More
10-year Treasury yield falls below 4% for the first time since February
Traders work on the floor of the New York Stock Exchange on July 24, 2024. Spencer Platt | Getty Images Treasury yields fell Thursday as investors digested comments from Federal Reserve Chair Jerome Powell, who suggested a September rate cut was on the table, along with a jump in U.S. jobless claims. The benchmark 10-year […]
Read More
It turns out that bad news for the economy may actually be bad news for the stock market
There was a perverse view this year that bad economic news was actually good news for the stock market, as the heat coming off the economy would give the Federal Reserve the greenlight to cut interest rates. This made some sense with inflation for the first time in a while becoming the primary market bogeyman […]
Read More
CNBC Daily Open: Fed signals possible rate cut; Wall Street soars; oil gains as Middle East tensions rise
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. Traders work on the floor of the New York Stock Exchange on July 25, 2023. Angela Weiss […]
Read More
Fed recap: Chair Powell gives the September rate cut signal traders were hoping for
Powell says a potential September rate cut would be apolitical Federal Chair Powell said a rate cut at the September meeting would be unrelated to the upcoming presidential election. He said the central bank would be “absolutely” apolitical if it lowered borrowing costs at the meeting. But the Fed chief also cautioned against assuming that […]
Read More
Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in June. Text removed from the June statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
Read More
Fed holds rates steady and notes progress on inflation
WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit […]
Read More
S&P 500 futures are little changed as Wall Street awaits Fed decision: Live updates
Traders work on the floor of the New York Stock Exchange on July 22, 2024. Timothy A. Clary | AFP | Getty Images S&P 500 futures are near flat Tuesday night as investors parsed the latest earnings reports and readied for the Federal Reserve monetary policy decision coming Wednesday afternoon. Futures tied to the broad […]
Read More