The Federal Reserve cut interest rates again, a move that meets market expectations but is bound to trigger another angry broadside from Trump
The Federal Reserve cut interest rates for the third time this year today but failed to signal that another one would be coming later this year, a move that meets market expectations but is bound to trigger another angry broadside from President Donald Trump.
That stimulus is intended to aid the economy in the face of a contracting manufacturing sector and weak business investment – the result of extended trade tensions and slowing growth in other countries. Inflation has also persistently come in below the Fed’s 2 percent target, which further feeds the case for lowering rates.
The Fed’s recent moves will take some time to ripple out into the broader economy, and the central bank will want to monitor how much its actions have helped; new GDP data released Wednesday morning showed that the U.S. economy grew by only 1.9 percent in the third quarter.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed set to cut rate by another quarter percentage point this weekThe recent easing of trade tensions with China has calmed markets, but any surprise action by the Fed could set off more volatility.
Read more »
Trade optimism, Fed rate-cut expectation sends S&P 500 to recordThe S&P 500 hit a record high on Monday, while the Nasdaq fell just short of its...
Read more »
Asia shares edge higher, eyes turn to FedAsian shares rose to a three-month peak on Tuesday after Wall Street hit all-tim...
Read more »
Trade optimism supports dollar vs yen; Fed awaitedBoth the dollar and riskier Asian currencies held on to modest overnight gains o...
Read more »
Asia stocks set to dip ahead of Fed interest rate decisionThe Fed is largely expected to slash interest rates by 25 basis points later this week. That would mark its third rate cut for this year.
Read more »
Wall St. dips after S&P notches record, Fed on deckThe S&P 500 edged lower to snap a four-session win streak on Tuesday and it retr...
Read more »