The broader market index was down 0.1% in the final hour of trading. The Nasdaq Composite hit its session low, falling 0.8%. The Dow Jones Industrial Average was well off its high, trading just 106 points higher, or 0.4%.
. "With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time," the Federal Open Market Committee said in a statement. He also added: "With regard to interest rates, we now indicate that we expect it will be appropriate to maintain the current zero to 0.25% target range for the federal funds rates until labor market conditions have reached levels consistent with the committee's assessments of maximum employment and inflation has risen to 2% and is on track to moderately exceed 2% for some time."
Republicans and Democrats have struggled to reach a deal on further stimulus, dwindling hopes of an agreement being struck before the U.S. presidential election in November.
Blame the fed reserve call on interest rate, but, actually, the WS needs a series of pricing correction and it has done it without shocking trauma to investors.
Cry me a river
There are two negative forces in the market, one is Trump’s fingers and the other is Powell’s mouth.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Forbes - 🏆 394. / 53 Read more »