The KBW Bank index reversed course and spiked as much as 1.2% after the central bank signaled two rate hikes before the end of 2023.
US stocks ended lower on Wednesday after the Fed held rates near zero and maintained the pace of asset purchases of at least $120 billion per month.
US indexes were mixed at the open as investors awaited the Fed's policy decision today. Microsoft and Google reported earnings that beat expectations.
The rule allowed major banks to hold less cash in reserve against Treasurys and was meant to spur lending to struggling businesses and households.
Federal Reserve policymakers expect the US to stage a full recovery in 2021, according to projections published Wednesday. The Federal Open Market Committee’s median estimate for 2020 growth landed at -2.4%. The median expectation for 4.2% growth in 2021 fully offsets the pandemic-induced slump. Committee members expect the unemployment rate […]
Federal Reserve officials are set to meet on Tuesday and Wednesday, and could offer new insight into when the central bank will pare back on its monetary policy support. The Fed’s asset-purchase program has aided market functioning and stifled interest rates for months. Yet its eventual unwinding could shock markets, […]
Stephen Auth, chief investment officer for equities at Federated Hermes says a divided government will be a “far happier outcome for markets” than a Democratic sweep. Auth explained that a divided government will pass a substantial fiscal package while avoiding “growth-killing” tax hikes. He has a long-term price target of […]