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 […]
Stock market today: Wall Street stays stuck in place as it counts down to a rate cut – The Associated Press
NEW YORK (AP) — U.S. stock indexes were flat on Tuesday, with Wall Street seeing fewer big moves than expected. First interest rate cut It's been more than four years. The S&P 500 rose 1.49 points, or less than 0.1%, to 5,634.58. It remains 0.6% below its all-time closing high set in July but briefly […]
Retail Sales Unexpectedly Rose in August, Lowering Chances of a Bigger Rate Cut
U.S. consumers unexpectedly increased spending in August, defying expectations that a softening labor market would dampen retail purchases. Retail sales rose 0.1% in August, Commerce Department data released Tuesday showed, after an upward revision to a 1.1% increase the previous month. While rising sales are unlikely to derail the Federal Reserve's plans to cut interest […]
US retail sales unexpectedly rise, lowering odds for big rate cut
U.S. retail sales unexpectedly rose last month, a surprisingly strong result that likely reduces the likelihood of a big interest rate cut from the Federal Reserve this week. Retail purchases rose 0.1% in August, Commerce Department data released Tuesday showed, beating economists' expectations of a 0.2% decline as cash-strapped consumers showed resilience despite a shaky […]
Global shares rise, dollar pinned lower by Fed rate cut bets By Reuters – Investing.com
By Samuel Indyk and Ray Wee LONDON (Reuters) – European shares rose on Tuesday but the U.S. dollar fell as the Federal Reserve was expected to begin an easing cycle and policymakers could potentially cut interest rates sharply. Investors remain focused solely on the Fed's decision on Wednesday, as the likelihood of a 50 basis […]