The US central bank is sticking to the “higher for longer” interest rate scenario factored into financial markets,while downplaying the prospect of widely feared rate hikes.
Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials to gain the “greater confidence” needed for them to kick off interest rate cuts.
If Donald Trump regains the US presidency,his policies will clash with the Federal Reserve Board’s key mandate of providing price stability.
The Australian sharemarket retreated in late trading to finish in negative territory for the fifth consecutive session despite making up some of the ground it had lost over the past week.
Joe Biden’s hopes of staying in the White House have been dealt a further blow with the release of economic numbers that also sent shivers through Wall Street.
Jamie Dimon is one of the most powerful people in the world. His annual letter to shareholders contains an alarming scenario. Australia would not be immune.
Federal Reserve officials signalled that they still expect to cut their key interest rate three times this year but see fewer rate cuts in 2025.
As the November elections loom larger,each set of economic numbers is becoming more important.
Commonwealth Bank’s market valuation has broken through $200 billion for the first time,as investor hopes of interest rate cuts sparked a rally in bank shares and lifted the market to a record high.
A bailout of a mid-sized US bank could be the signal that something more sinister is on the horizon.
Markets have been sending a signal for more than a year that a US recession could be on its way. The next few months are crucial.