The central bank’s aggressive rate hikes have been making markets jittery, especially as Fed officials assert their determination to keep raising rates until they are sure inflation is coming under control.
Fed Chair Jerome Powell bluntly warned in a speech last month that the rate hikes would “bring some pain.” “He has done everything he possibly can to signal that it’s going to be another aggressive move,” said Liz Young, head of investment strategy at SoFi. “He’s been clear as a bell about what they’ve been focused on.”
The Fed is expected to raise its key short-term rate by a substantial three-quarters of a point for the third time at its meeting on Wednesday. That would lift its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and up from zero at the start of the year.
Wall Street is worried that the rate hikes could go too far in slowing economic growth and push the economy into a recession. Those concerns have been heightened by data showing that the U.S. economy is already slowing and by companies warning about the impact of inflation and supply chain problems to their operations.
Hopefully the mkt has priced in the rate hike.
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:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US stocks rise ahead of expected interest rate hike by FedStocks closed higher on Wall Street after swaying between small gains and losses much of the day as investors brace for another big interest rate increase this week from the Federal Reserve.
Source: KPRC2 - 🏆 80. / 68 Read more »
European Stocks Set to Slip at the Open as Traders Await This Week's Fed MeetingEuropean markets were seen opening slightly lower Monday, after a tough week which saw stocks fall across the board.
Source: nbcchicago - 🏆 545. / 51 Read more »
Dow gains 200 points as stocks finish higher ahead of September Fed meetingU.S. stocks finished higher on Monday as investors wait for the Federal Reserve to deliver another jumbo interest-rate hike later this week. The Dow Jones Industrial Average gained 197.26 points, or 0.6%, to 31,019.68:
Source: MarketWatch - 🏆 3. / 97 Read more »
US stocks rise ahead of expected interest rate hike by FedA choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve. Blame this clown 🤡
Source: AP - 🏆 728. / 51 Read more »
U.S. stocks rise ahead of expected interest rate hike by FedStocks closed higher on Wall Street after swaying between small gains and losses much of the day as investors brace for another big interest rate increase this week from the Federal Reserve Infinitely long can look at three things: how the water flows, as the fire burns, and the Stars and Stripes.
Source: latimes - 🏆 11. / 82 Read more »
US stocks rise ahead of expected interest rate hike by FedIt's expected to raise its benchmark rate, which influences interest rates throughout the economy, another three-quarters of a percentage point in its fight against inflation.
Source: 10News - 🏆 732. / 50 Read more »