for a more sustained period in the Fed's forecast makes sense given the Fed's boost to its outlook for Gross Domestic Product .
"We've seen inflation be more persistent over the course of the past year, but I wouldn't say that's something that's appeared in the recent data," Powell said. "It's more about stronger economic activity, I would say. So if I had to attribute one thing, again, we're picking medians here and trying to attribute one explanation, but I think broadly stronger economic activity means we have to do more with rates.
For instance, just three months ago the Fed saw 0.5 percentage points more worth of rate cuts in both 2024 and 2025 than it did in its most recent forecast released Wednesday. Despite the market reaction, Powell himself sent a similar warning about the SEP throughout his press conference.
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:
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.
Stock market today: Wall Street stays mixed, bond yields spike after Fed updates rate outlookNEW YORK (AP) — Stocks was mixed and Treasury yields snapped higher after the Federal Reserve pulled back on its estimates of how much it expected to cut interest rates next year.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street stays mixed, bond yields rise after FedNEW YORK (AP) — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street slumps after Fed warns rates may stay higher through 2024NEW YORK (AP) — U.S. stocks slumped after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 fell 0.9% Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »
Stocks retreat as Wall Street braces for 'higher for longer' rates: Stock market news todayUS stocks were poised to continue their retreat on Thursday as investors worried over the Fed's hawkish stance.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall StreetAsian shares were mixed on Friday after another slump on Wall Street driven by expectations that U.S. interest rates will stay high well into next year. Hong Kong and Shanghai advanced while Tokyo, Seoul and Sydney declined. U.S. futures edged higher and oil prices rose. Japan’s central bank kept its benchmark interest rate at minus 0.1%, as expected, but pledged flexibility in its policies. “Japan's economy is likely to continue recovering moderately for the time being, supported by factors suc
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street holds a bit steadier as it closes out an ugly weekNEW YORK (AP) — Wall Street’s ugly week is getting a bit of a reprieve, and stocks are holding steadier on Friday, but it’s still heading for its worst week in six months. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »