EUR/USD flat lines above 1.1100 after Fed's bumper rate cut – FXStreet
EUR/USD was trading sideways around the 1.1120 level in early European session on Thursday. At its September meeting, the Fed cut interest rates by 50 basis points, setting a new target range for interest rates of 4.75% to 5.00%. The euro area's annual HICP stabilized at 2.2% in August, as expected. The EUR/USD pair traded […]
The Fed Tied Its Own Hands with Rate Cut Decision
Speaking on Fox Business Network's “Kudlow” show on Wednesday, Breitbart News economics editor John Carney said the Fed should have waited until after the election to cut interest rates, and that announcing a 50 basis point cut now would force the Fed to do the same thing in November. Carney said:[T]They should have waited until […]
ForexLive Asia-Pacific FX news wrap: USD/JPY surges in Asia response to FOMC 50bp rate cut – ForexLive
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Fed might have cut rates at July meeting: Fed Chair Powell
Federal Reserve Chairman Jerome Powell said Wednesday that the central bank might have started cutting interest rates in late July if it had known the labor market would cool so quickly. “If I had received the July report before the meeting, would I have lowered rates? Probably I would have,” Powell said at a news […]
Federal Reserve Meets, Decides To Cut Interest Rates Before 2024 Election
US Federal Reserve Chairman Jerome Powell holds a press conference in Washington, DC, on September 18, 2024. The US Federal Reserve cut its key lending rate by half a percentage point on Wednesday in its first interest rate cut since the pandemic, sharply lowering borrowing costs ahead of November's presidential election. (Photo by Mandel Ngan/AFP) […]
Trump weighs in on Fed rate cut during stop at Manhattan bitcoin bar
Former President Trump said Wednesday that the Federal Reserve's decision to cut interest rates is a sign that the economy is in trouble or that the central bank is playing “political games.” Ahead of a planned rally on Long Island, President Trump stopped by a self-described Bitcoin bar called Pub Key in New York City. […]
USD/JPY plunges after Fed delivers 50 bps rate cut – FXStreet
USD/JPY fell in response to the Fed's 50bps rate cut but has since recovered. The dot plot for the Fed's interest rate outlook also fell. Fed Chairman Powell eased initial market fears at a press conference. The US dollar fell to $140.80 against the Japanese yen on Wednesday after the Federal Reserve announced a 50 […]
Michelle Bowman votes against Fed half-point rate cut — first dissent since 2005
Federal Reserve Governor Michelle Bowman on Wednesday became the first Fed governor since 2005 to vote against the central bank's interest rate decision, rejecting Fed Chairman Jerome Powell's apparent consensus at a critical juncture. All 11 other voting members of the Federal Reserve Board of Governors voted in favor of lowering the Fed's policy rate […]
Fed rate cut on collision course with 2024 election politics
The Federal Reserve is set to cut interest rates by at least a quarter of a percentage point on Wednesday, putting the politically independent institution in the crosshairs of a bitter election in which inflation and economic pain are central issues. Fed Chairman Jerome Powell has faced criticism from both parties for months. Some Democrats, […]
Bitcoin ETFs Add $250 Million in Surge Ahead of Expected Rate Cut – Decrypt
Bitcoin Exchange-Traded Fund (ETF) There is a renewed interest. Figures published by blockchain data firm Arcam Intelligence show American funds added a total of about $250 million worth of Bitcoin on Monday, the most daily additions in more than a month. The surge helped push the price of bitcoin itself above $61,000 per coin on […]