as was widely expected but signalled that it could raise rates by another half percentage point by year-end.
Trading was choppy after the news with the MSCI's gauge of stocks across the globe falling by as much as 0.34 per cent after the Fed statement but then regaining lost ground while Fed Chair Jerome Powell took questions from reporters. It closed up 0.24 per cent. Krosby said it was likely that Powell's stance that bringing down inflation to the Fed's 2% trader would not"require weakening the labor market dramatically" reassured investors.
He said"the market realizes that the Fed is getting close to the end of the tightening cycle" and added that since the Fed has hiked rates so much already Wednesday's announcement is"not as hawkish as this might have appeared when they were starting up."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed holds rates steady, sees two small hikes by end of yearWASHINGTON: The Federal Reserve kept interest rates unchanged on Wednesday (Jun 14) but signalled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year as the US central bank reacted to a stronger-than-expected economy and a slower decline in
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Fed starts interest rate meeting as inflation continues to coolWASHINGTON: The US Federal Reserve on Tuesday (Jun 13) kicked off a two-day meeting to set its benchmark lending rate, with fresh signs of cooling inflation increasing the chance it will pause its aggressive cycle of rate hikes. The Fed has
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia shares track Wall Street rally with inflation data, Fed in focusHONG KONG : Asian shares edged up in early trade on Tuesday, following an upbeat session on Wall Street while investors turned their attention to key U.S. inflation data and the Federal Reserve's interest rate decision this week.Investors will be closely monitoring U.S. Consumer Price Index (CPI) data, du
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »