2 hours ago
Fed Chairman Powell says on 60 Minutes that the Fed will approach rate cuts ‘cautiously’
In an interview with CBS’s “60 Minutes” on Sunday, Federal Reserve Chairman Jerome Powell said the Fed would approach rate cuts “cautiously” and suggested markets may be cutting too many rates.
“We would like to see further evidence of a sustained decline in inflation to 2%,” Powell added. “Our confidence is high. We just need a little more confidence before we take the very important step of starting to cut rates,” Powell told 60 Minutes’ Scott Pelley, according to a CBS recording. Ta.
“We will update [the outlook] At the March meeting. But I would like to say that nothing has happened during this time to make me think that people would change their expectations dramatically,” Powell added.
— Jesse Pound, Jeff Cox
3 hours ago
week review
Last week’s market statistics are as follows:
- The Dow Jones Industrial Average rose 1.43% for the week, marking its fourth straight positive week.
- The S&P 500 rose 1.38% for the week, marking its fourth consecutive week of positive gains.
- The Nasdaq Composite Index rose 1.12% for the week, marking the fourth straight week of positive gains.
- All three major averages have increased in 13 of the past 14 weeks.
— Jesse Pound, Christopher Hayes
4 hours ago
Stock futures open flat
Stock futures were quiet when trading opened at 6 p.m. in New York, with all three major futures trading within 0.1% of the previous day’s closing price.
— Jesse Pound
