Markets

Economist Ed Yardeni explains why the Fed action is ‘most important’ factor for the stock market — even more so than the election — ahead of Powell’s speech Thursday

Ed Yardeni told CNBC on Monday that Fed chair Jerome Powell’s speech on Thursday will be “very important.” The economist expects continued dovish remarks from the Fed, and said the central bank will target average inflation but won’t mind if it runs above 2%. Yardeni said that Fed action is […]
Economist Ed Yardeni explains why the Fed action is ‘most important’ factor for the stock market — even more so than the election — ahead of Powell’s speech Thursday
Markets

Fed officials pushed for clearer guidance on future policy, meeting minutes show

Federal Reserve officials called for detailed forward guidance and mulled additional policy tools during their June meeting, according to minutes released Wednesday. Policymakers expect “highly accommodative monetary policy” to last “for many years” until the economy poses a robust recovery. Central bankers agreed clearer forward guidance is “important” to effectively […]
Fed officials pushed for clearer guidance on future policy, meeting minutes show
Markets

US Fed raises interest rates, expects 2 more hikes this year

The Federal Reserve on Wednesday announced that it raised its benchmark interest rate, as had been widely expected. This will raise borrowing costs for credit cards, auto financing, mortgages, and other loans, but help savers earn more interest on their deposits. In a notable change to its statement, the Fed […]
US Fed raises interest rates, expects 2 more hikes this year
Markets

Here’s how the Fed sets interest rates and why it matters

The Federal Reserve on Wednesday is set to lower its benchmark interest rate for the first time since the financial crisis. The impact of this rate cut was felt in the housing market and in savings accounts weeks before the Fed’s decision. America’s central bank adjusts the interest rates that […]
Here’s how the Fed sets interest rates and why it matters
Markets

Here’s the new US Fed dot plot

The Fed announced it will raise the benchmark Fed funds rate to a range between 1.5% and 1.75%. The Federal Open Market Committee also released its quarterly “dot plot,” showing where Fed members expect rates to go in the next few years. The median member predicts rates will be between […]
Here’s the new US Fed dot plot
Markets

YELLEN: Bitcoin is a ‘highly speculative asset’

The Federal Reserve raised its key interest rate 25 basis points to a range between 1.25% and 1.50% at the conclusion of Wednesday’s meeting. At the accompanying press conference, Fed Chair Janet Yellen was asked about bitcoin. Yellen called the cryptocurrency a “highly speculative asset” and said the Fed is […]
YELLEN: Bitcoin is a ‘highly speculative asset’
Markets

Here’s the new Fed dot plot

The Fed announced it intends to raise the benchmark Fed funds rate to a range between 1.25% and 1.5%. The Federal Open Market Committee also released its quarterly “dot plot,” showing where Fed members expect rates to go in the next few years. The median member predicts rates will be […]
Here’s the new Fed dot plot