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Fed matches rate cut expectations but 'hawkish' outlook sends dollar soaring
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investmentweek.co.ukThe 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 ...
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Read more on investmentweek.co.ukAbout this in other media
US Fed rate cut impact on Mortgages, Home Loans, Credit Cards, Car prices, Savings, Student loans. Details here economictimes.indiatimes.com /19 hours ago
Inflation risks roughly balanced as rate cuts signal caution: Fed Chair Jerome Powell economictimes.indiatimes.com /21 hours ago
Fed cuts by a quarter point, indicates fewer reductions ahead cnbc.com /22 hours ago
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