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Posts Tagged ‘interest rates’

Does Fed, market complacency make you nervous?

“The U.S. economy is the star economy these days,” Fed chair Jerome Powell told the House Budget Committee today, November 14. “There is no reason to think that I could see that the probability of a recession is at all elevated at this time.” “Our forecast is, and our expectation very much is, one of […]

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Powell refuses chance to say the Fed is on interest rate hold through 2020

Given a chance to say that the Federal Reserve will keep its interest rate policy on hold through 2020, Fed chair Jerome Powell refused to take the bait at this morning's testimony in front of the congressional Joint Economic Committee.  “We see the current stance of monetary policy as likely to remain appropriate as long […]

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The Fed interest rate pause that …

Distresses? Refreshes? Isn't important? Today, as expected the Federal Reserve cut the benchmark interest rate for the third time this year. The Fed lowers its benchmark rate 25 basis points to a range of 1.5% to 1.75%. At the same time the Fed signaled that it would pause after this cut, the third reduction in […]

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Saturday Night Quarterback says, For the week ahead expect…

... that news on a U.S.-China trade agreement will still be a big mover from stocks, but it will have to share top-of-mind space this week with the Wednesday, October 30, meeting of the Federal Reserve's interest rate setting body, the Open Market Committee. As far as the financial markets are concerned, there's no suspense […]

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Fed minutes from September show debate on how low interest rates should go

Here's the most important point, to me, from the minutes of the Federal Reserve's September 18 meeting released today. At the meeting the Fed lowered interest rates by 25 basis points for the second time in 2019. “Several participants suggested that the committee’s post-meeting statement should provide more clarity about when the recalibration of the […]

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Today’s stock gains look like a traders’ bounce rather than a shift in sentiment

Yes, U.S. stocks were up today with the S&P 500 closing higher by 1.10% and the Dow Jones Industrial Average by 1.11%. But that still left the stock market down for the week. And looking at the performance today of risk havens, today's move looks to be a bounce after a really negative week created […]

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I think we can call this a data dependent market for Friday

The trend in U.S. financial markets this week has pointed down on data that shows the U.S. economy is slowing. Certainly the disappointing numbers in both the manufacturing and services Purchasing Managers Indexes have supported that conclusion. That could all change with the release of the September jobs numbers tomorrow, Friday, October 3. Or maybe […]

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PMI Services disappoints; stocks recover on Fed cut speculation

The Institute for Supply Management's Purchasing Managers Index for Services fell to 52.6 for September, according to reports this morning, October 3. That was a drop from August's 56.4 and below the 55.0 that economists surveyed by Bloomberg had projected. That left the index still solidly in expansion territory but with suggestions of a slower […]

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Wall Street puts two more 2019 interest rate cuts back on the table

Yesterday's disappointing Purchasing Managers Index news on U.S. manufacturing has put two interest rate cuts from the Federal Reserve back on Wall Street's expectations.(Economists had expected that the PMI number for September would show the manufacturing sector moving back into expansion territory. Instead the sector moved deeper into contraction.) According to the CME Fed Watch […]

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Once more (at least) into the breach–Fed to put up to another $75 billion into money markets tomorrow in continuing attempt to end liquidity crisis

Here's the rather bland statement from the Federal Reserve Bank of New York: "In accordance with the FOMC Directive issued September 18, 2019, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct an overnight repurchase agreement (repo) operation from 8:15 AM ET to 8:30 AM ET tomorrow, […]

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