Investors are hoping for further reductions to sustain the rally that has allowed Wall Street to scale new highs in September, defying historical trends
Powell offered no hints on whether he might support a rate cut at the Fed's next meeting, in October
The personal consumption expenditures (PCE) price index rose 0.3 per cent last month after an upwardly revised 0.2 per cent gain in May, the Commerce Department's Bureau of Economic Analysis said
Trump reiterated his criticism of the Fed chair in a Cabinet meeting Tuesday, calling Powell "terrible," and telling reporters that deceiving Congress would be grounds for a swift exit
Karoline Leavitt displayed a copy of Trump's handwritten notes to Powell on a piece of paper showing the interest rates charged by more than two dozen countries
In his prepared testimony Powell said the economy remains in a "solid position," with low unemployment and inflation far below its pandemic-era peak
Despite holding rates, Fed eyes inflation risks from tariffs; Jerome Powell says price hikes likely as retailers pass costs to consumers over summer
The rate-setting panel voted unanimously to keep the benchmark federal funds rate in a range of 4.25 per cent to 4.5 per cent, where it's been since December
The Fed's policy rate has been unchanged since December as officials struggle to estimate the impact of President Donald Trump's import tariffs
At his 100-day rally, US President Donald Trump reignites feud with Federal Reserve Chairman Jerome Powell, and defends tariffs as tools to revive US manufacturing
Donald Trump has long pressured the Fed Chair to cut interest rates, especially after the administration imposed global tariffs on trade partners
Among the 10 constituents on the index, around 10:07 AM, 9 declined with LTIMindtree, Tata Consultancy Services (TCS), Infosys, Coforge, HCLTech down nearly 2 per cent
The probability of a 50-basis-point cut has more than quadrupled to 59% from just 14% last week, with a total of 119 bps in cuts now expected in 2024
He says that a 25-bp cut with a strong dovish message could be as effective as a 50-bp cut with minimal commentary
Nifty rises 0.75% to reclaim 25,000
All you need to know before the market opens on Tuesday, May 14: Gift Nifty hints a gap-up start; Zomato stock to react to Q4 earnings; Key levels to watch out on the Nifty, Bank Nifty.
China doesn't have such inflation worries, but rise in the premium of US 10-year government bond yields over their Chinese equivalents to a record high has sparked concerns over depreciation of yuan
Others see a slowing economy and weakening job growth on the horizon, pushing the Fed to cut in order to support the labor market
The US central bank, Powell said, is prepared to hike the benchmark rates and keep the borrowing costs high until inflation comes in the target range of 2%
The yuan weakened after the government reported unexpectedly low inflation