Google is testing AI products to compete with ChatGPT.Chair of the Board of Governors of the Federal Reserve System Jerome H. Powell participates in a panel during a Central Bank Symposium at the Grand Hotel in Stockholm, Sweden, January 10, 2023.Here are the most important news items that investors need to start their trading day:on Wednesday afternoon. Markets are expecting a quarter-point increase, which is lower than the past few.
The expected hike Wednesday would put its rate range at 4.50% to 4.75%, which is close to the Fed's estimated end point of 5% to 5.25%. The announcement is scheduled for 2 p.m. ET, and Powell will speak at 2:30.Last month will be a tough act to follow. The S&P 500 posted its best January since 2019, while the Nasdaq recorded its best January in 22 years.
The Fed will raise interest rates by a quarter point. Chair Powell will say he’s committed to lower inflation. That the Fed still see increasing commodity prices and that their job isn’t done. The Fed will keep the interest rates high to prevent a resurgence in inflation.
The federalreserve lost the battle with inflation. Can’t stop this train. It has slowed down a little but nothing really has changed. This is the new norm get used to it. People have cash, and they will spend.