Powell's highly anticipated remarks didn't appear to match the expectations of investors who are betting the Fed will deliver its first interest-rate cut of the year at the Sept
Citigroup and Wells Fargo also expect the Fed to cut rates by 75 basis points in 2025, while UBS Global Research forecasts 100 basis points of reduction
US President Donald Trump lashed out at Federal Reserve Chair Jerome Powell after the Fed opted to leave short-term rates unchanged in its June meet
Fed policymakers signaled a cautious stance of their own on Wednesday at a policy meeting that left interest rates unchanged but acknowledged rising risks to both growth and inflation
Taking stock of the Trump administration's rollout of tariffs, Fed officials actually marked up their outlook for inflation this year
Manufacturing, which accounts for 10.3 per cent of the economy, has been recovering as the US central bank started cutting interest rates in September
The Federal Reserve is prepared to keep its key interest rate unchanged for now as inflation remains elevated and the job market is solid, Chair Jerome Powell said Tuesday on the first day of a two-day appearance before Congress. After cutting its key rate a full percentage point in the final three months of last year, with the economy remaining strong, we do not need to be in a hurry to adjust our policy stance, Powell said in written remarks to the Senate Banking Committee. Powell's appearance comes as inflation is still above the Fed's 2 per cent target and the Trump administration is upending many long-time US policies by imposing tariffs on steel and aluminum and seeking to sharply cut government spending. President Donald Trump has also frequently attacked the Fed in the past, raising concerns about the Fed's historic independence from politics. Powell did not mention those policy changes in his statement, but said that the Fed's interest rate is well positioned to deal with
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.33 per cent higher but on course for a nearly 1 per cent drop for the week
The dollar gave back some of Wednesday's gains and gold rallied as investors grew accustomed to the reality that the central bank will take a slower, more measured approach to policy easing
It may not be all that surprising that a growth upgrade for next year may be back in the cards again this week when Fed policymakers gather to deliver what is expected to be a third interest rate cut
The remarks provide a small taste of what's expected to be a broad but closed-door debate of the appropriate path for policy at the Fed's upcoming policy meeting, on Nov. 6-7
The greenback was down 0.39 per cent at 148.71 yen after rising to as high as 149.58 yen for the first time since Aug. 2 . The euro dropped to its lowest since Aug. 9 against the dollar
"If the economy evolves broadly as expected, policy will move over time toward a more neutral stance," Powell said
The BSE Sensex, NSE Nifty can gain another 2% from present levels; while the Nifty IT index could see a sharp 6% rally; suggests technical charts.
Traders now see just a 15 per cent chance of a half-point rate cut at the Fed's Sept. 17-18 policy-setting meeting
The Federal Reserve is expected to cut interest rates next week for the first time in more than four years
In 2001 and 2019 - an aggressive and shallow rate-cutting cycle, respectively - the spread turned positive about three months after the first cut
Brent crude futures climbed 79 cents, or 1 per cent, to $79.81 a barrel by 0910 GMT, while US crude futures were at $75.63 a barrel, up 80 cents, or 1.07 per cent
On Friday, Powell will again deliver his most important policy speech of the year from that closely watched stage
The hotly anticipated speech at the Fed's annual gathering in Jackson Hole, Wyoming, comes at a high stakes moment for the US central bank and the $27 trillion Treasury market