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inflation as their comments echo Fed chief Jerome Powell's call for caution. The US Fed policymakers, fresh from an interest rate cut this week, fleshed out on Friday the case for reducing borrowing costs more slowly next year as they assess progress in lowering inflation and the impact of tariffs and other policies promised by President-elect Donald Trump, Reuters reported. San Francisco Fed President Mary Daly, who supported the U.S. central bank's decision on Wednesday to cut its benchmark overnight rate by a quarter of a percentage point to the 4.25 per cent-4.50 per cent range, and Cleveland Fed President Beth Hammack, who dissented against it, both said the meeting's outcome was a «close call.» Daly and two other Fed policymakers who spoke on Friday said they felt the central bank would likely resume its rate-cutting next year, but signaled they would take their time doing so now that, as Daly put it, the «recalibration phase» is over, as per Reuters report. «We're in the next phase, and that next phase is really looking at the incoming information,» Daly said in an interview with Bloomberg Television.

SlateStone Wealth chief market strategist Kenny Polcari addresses the 'nervousness' over Trump's expected tax cuts on 'Varney & Co.'

An inflation gauge that is closely watched by the Federal Reserve barely rose last month in a sign that price pressures cooled after two months of sharp gains

Subscribe to enjoy similar stories. We might as well confront it head-on: What the Federal Reserve did this week doesn’t make any sense. The Federal Open Market Committee on Wednesday cut the target range for the Fed funds rate by one-quarter percentage point, to 4.25% to 4.5%, its third consecutive rate reduction.

Bitcoin traded lower for the fourth consecutive day on Thursday, weighed down by Federal Reserve Chair Jerome Powell's hawkish tone and comments on the potential of a Bitcoin reserve. In a press conference on Wednesday, Powell stated that the US central bank has no intention of being involved in any government efforts to stockpile large amounts of Bitcoin. «We're not allowed to own Bitcoin,» he said, following the Fed's two-day policy meeting.

The Fed chief was addressing the prospect of central bank involvement in the idea of the government building a so-called Strategic Bitcoin Reserve once President-elect Donald Trump takes office.

Bitcoin fell nearly 3% on Thursday after the U.S. Federal Reserve signaled it would slow the pace of rate cuts in 2025. The cryptocurrency briefly dipped below the $100,000 mark, weighed down by Federal Reserve Chair Jerome Powell’s hawkish tone and comments on the potential of a Bitcoin reserve. While the Fed announced a widely expected 25-basis-point rate cut, its forecast of only two quarter-point reductions in 2025 was lower than the three or four cuts anticipated by markets. This reduced easing projection raised concerns among investors.

labor market conditions. Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 220,000 for the week ended Dec. 14, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 claims for the latest week. Claims have entered a period of volatility, which could make it challenging to get a clear view of the labor market. A range of indicators including claims and job openings suggest that conditions are much looser than they were before the COVID-19 pandemic, but the labor market is slowing in an orderly fashion.

The vote was almost unanimous, with 11 of the 12 Federal Open Market Committee members voting in favour of the rate trim; only Beth Hammack, president of the Federal Reserve Bank of Cleveland cast her vote in favour of maintaining current interest rates. However, cautious rhetoric from Fed chair Jerome Powell caused Treasuries to topple and the US dollar to soar.  «As for additional cuts, we are going to be looking for further progress on inflation as well as continued strength in the labour market,» said Powell, emphasising that the FOMC will remain data-driven into 2025.  Powell ...

stocks and bonds. The rupee hit a low of 85.085 per dollar, before closing at 85.07 per dollar, as against its previous close of 84.952/$1, LSEG data showed The rupee has depreciated to record lows for the fourth consecutive day, even as the Reserve Bank of India intervened in the onshore and offshore markets to prevent excess volatility, traders said. The rupee hit 85.15/$1 in the offshore non-deliverable forwards market, and will act as an immediate support, traders said.

Subscribe to enjoy similar stories. Investors shuddered on Wednesday after Chair Jerome Powell suggested the Federal Reserve was ready to take a break from cutting rates—and that the total quantity of reductions might be shallower than previously thought. Powell has described recent rate reductions as an effort to recalibrate borrowing costs to a more “neutral" setting.

Fed Chair Jerome Powell has left little chance for a Santa rally in global equity markets. While the Dow Jones recorded its worst day in over four months, the Sensex fell more than 1,100 points, nearing the 79,000 mark. The market had already priced in the impact of a 25 basis point rate cut but was left concerned after the dot plot was revised significantly higher, with only two cuts now forecast for 2025, half of what was expected in September. According to the current projections, 2026 is also likely to see just two cuts, down from four previously.

Heritage Research fellow and economist EJ Antoni joins ‘The Big Money Show’ to discuss reports the Federal Reserve is likely to cut rates for the third time this year.

US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell noted that inflationary pressures are now «roughly balanced».

WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional reductions in coming years. 

Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid. U.S. retail sales increased more than expected in November, buoyed in part by an acceleration in motor vehicle purchases, consistent with strong underlying momentum in a resilient economy.

The NSE Nifty fell 332.25 points, or 1.35%, to close at 24,336. The BSE Sensex declined 1,064.12 points, or 1.3%, to end at 80,684.45.

U.S. stock indexes drifted through mixed trading ahead of a meeting by the Federal Reserve later this week that could set Wall Street’s direction into next year

Subscribe to enjoy similar stories. Investors see an interest-rate cut by the Federal Reserve this week as all but certain. Inside the central bank, the case for continued reductions will be less clear-cut if the economy continues to chug along.

Markets are pricing in a more than 90% probability of a 0.25-percentage-point cut in the Fed funds rate this week. Officials are likely to pencil in higher «dot plots» for rates, notwithstanding the dispersion in forecasts among them, together with a move up in the terminal rate closer to what the market expects. Finally, while Chair Jerome Powell will not close off his options for January completely, he is expected to signal at his press conference that the central bank will stand pat when the Federal Open Market Committee meets next month.

Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week’s Federal Reserve meeting