Call it a delayed reaction, but the Federal Reserve’s signal that its main policy rate will likely peak above 5% and say there for a while was getting the blame for Thursday’s painful stock-market rout.
The S&P 500 index SPX was off 2.5%, heading for its worst daily drop in three months, with losses in its rate-sensitive communication services and information technology sectors leading the way lower. Those sectors were down 4.1% and 3.6%, respectively, at last check, according to FactSet. Top executives at Wall Street’s largest banks, including JPMorgan Chase JPM CEO Jamie Dimon, have been stepping up warnings about how high inflation risks sparking an economic recession in 2023.
Rate-cut hopes dashed Central bankers still hope a strong labor market means a U.S. economic “hard landing” can be avoided as they work to contain price pressures on consumers that in November retreated to 7%, but were still far from its 2% annual target. Hogan, however, cautioned that investors might be “overreacting” to this shift in expectations, since the Fed rarely makes good on its projections of where rates might peak, adding that the central bank doesn’t have “a history of accuracy.”
Biden Administration and the Fed are destroying our country.
so far
What they are doing is causing stagflation
Is MarketWatch going to do a report about how much money the Fed is now losing per month and when the Fed is going to be insolvent. What happens when the Fed is insolvent and headed toward bankruptcy? Do they go to the US govt whose debt they have been monetizing for a bailout?
The market sucks because the FED exists. 98% decrease in purchasing power of dollar since the FED aka Fraud was created.
Thought that was a middle finger at first. Had to double take.
Central banks & the Fed are cashing in
대한민국 최근 뉴스, 대한민국 헤드 라인
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