-- US Treasuries held gains after the Federal Reserve reduced the number of projected interest-rate cuts this year to just one, leaving the central bank at odds with the market.Hunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.
“The Fed wants optionality by keeping at least one cut available for the balance of the year,” said George Goncalves, head of US macro strategy at MUFG. “If they cut in September, we doubt the markets would believe there wouldn’t a follow-up after elections. So they are now at a minimum.” The tone of the statement and revised quarterly dot plot chipped at the Treasury market rally. Fed Chair Jerome Powell’s news conference to discuss the developments begins at 2:30 p.m. New York time.Expectations for Fed interest-rate cuts — following 11 increases during the past two years — had collapsed this year as progress toward lower inflation stalled and other indicators showed the economy coping well with the Fed’s current policy rate band.
“For all the economists out there with a September rate cut in their forecast, they’re probably also relieved,” Frances Donald, global chief economist at Manulife Investment Management, told Bloomberg Television after the inflation report. “We’ll take it as a win, it’s good news for consumers, for markets, for all.”Food Companies Hope You Won’t Notice Shortages Are Raising PricesThis 8.3% dividend stock can help you earn $154 in monthly cash. The post This 8.
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