US Fed Meeting Highlights: US Fed now 'significantly closer' to end of easing cycle, says Jerome Powell
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US Fed Meeting Highlights: Fed cuts rate as expected but slower easing forecast sends US equities markets tumbling
US Fed Meeting Highlights: US Fed now 'significantly closer' to end of easing cycle, says Jerome Powell
US Fed Meeting Highlights: 2-year Treasury yield jumps as Fed signals cautious rate cuts
Treasury yields surged following the Fed's cautious outlook on rate cuts in 2025. The 2-year Treasury yield, closely tied to Fed rate expectations, rose to 4.352 percent from 4.239 percent on Tuesday. Meanwhile, the benchmark 10-year Treasury yield climbed to 4.49 percent, up from 4.384 percent.
US Fed Meeting Highlights: Nasdaq and S&P slump amid Fed concerns
The Nasdaq Composite tumbled 2.5 percent, and the S&P 500 slid 1.9 percent as concerns over prolonged higher interest rates rattled markets. Fed officials pared rates by a quarter point but hinted at just two cuts in 2025, driving a sharp selloff across equities.
US Fed Meeting Highlights: Dow heads for longest losing streak in 50 years
The Dow Jones Industrial Average dropped more than 1100 points intraday, marking its 10th consecutive losing session and the longest streak since October 1974 if it closes at these levels. The blue-chip index extended the fall to as much as 2.6 percent after the US Fed signal of fewer cuts in 2025 disappointed investors.
US Fed Meeting Live Updates: Dollar strengthens as Fed cuts rates, tempers outlook
The dollar gained and benchmark Treasury yields strengthened after Fed sent a clear signal that it will slow the pace of rate cuts from here.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 1% to 108.01, with the euro down 1.07% at $1.038. The yield on benchmark U.S. 10-year Treasuries rose 8.7 basis points to 4.47%.
US Fed Meeting Live Updates: The Fed chief says he is 'very optimistic' about the economy
"It's in a really good place, our policy is in a really good place (and) I expect another good year next year," Jerome Powell said.
US Fed Meeting Live Updates: Jerome Powell says the Fed isn't looking to own bitcoin
When asked about Donald Trump's plan to create a US bitcoin strategic reserve, Powell said: "We're not allowed to own bitcoin. The Federal Reserve says what we can own, and we're not looking for a law change. That's the kind of thing for Congress to consider. But we are not looking for a law change at the Fed."
US Fed Meeting Live Updates: Fed intended to signal nearing the end of rate easing
Jerome Powell said that the Fed intended to signal that the committee is “at or near the point” where it will be appropriate to pause interest rate cuts.
US Fed Meeting Live Updates: Jerome Powell says the Fed isn't looking to own bitcoin
When asked about Trump's plan to create a US bitcoin strategic reserve, Powell said: "We're not allowed to own bitcoin. The Federal Reserve says what we can own, and we're not looking for a law change. That's the kind of thing for Congress to consider. But we are not looking for a law change at the Fed."
US Fed Meeting Live Updates: 'Going forward... we're moving slower,' says Jerome Powell
Jerome Powell said, "I think from now, we are in a place where the risks really are in balance, and we need to see progress on inflation. And that's, how we're thinking about it. So it is kind of a new thing. We moved pretty quickly to get to here. And I think going forward, obviously we're moving slower."
US Fed Meeting Live Updates: Jerome Powell not ready to say what Trump's policies will do to economy
Jerome Powell said it's too soon to say what President-elect Donald Trump's proposed economic policies will do to the economy and how that might bear on the central bank's policy choices.
At this point, "it’s very premature to make any kind of conclusions. We don’t know what will be tariffed, from what countries, for how long, in what size," Powell said.
"We need to take our time, not rush” and see what the new president delivers, Powell said, amid economists' expectations that tariffs and deportations favored by Trump are likely to push inflation higher.
US Fed Meeting Live Updates: Jerome Powell said the jobs market is cooler by 'so many measures' now
Jerome Powell said Inflation was still unwinding from large shocks in 2021 and 2022.
US Fed Meeting Live Updates: Jerome Powell outlines Fed's balancing act on rates
Jerome Powell said that the Fed is trying to balance these two risks: moving too slowly could harm economic activity and the labour market, while moving too quickly could jeopardise progress on inflation.
US Fed Meeting Live Updates: Jerome Powell says Fed will have to take its time to assess tariffs as they happen
Jerome Powell said, "I just think we need to take our time, not rush and make a very careful assessment, but only when we've actually seen what the policies are and how they're implemented. And, you know, we're just we're just not at that stage. We're at the stage of doing what other forecasters are doing, which is kind of thinking about these questions, but not not trying to get to definitive answers for some time."
US Fed Meeting Live Updates: Dollar surges to over two-year high as Fed turns cautious on future rate cuts
US dollar rallied to its strongest level in more than two years after the Federal Reserve signaled a slower pace of monetary easing in 2025. The Bloomberg Dollar Spot Index climbed 0.6 percent on Wednesday, hitting its highest since 2022. The index has risen nearly 7 percent this year, strengthening against all major developed-world currencies.
US Fed Meeting Live Updates: Sticky inflation weighs on Fed forecast
Powell says inflation has been stickier in recent months, and that might be the single biggest factor behind the upward revision to the inflation forecast.
US Fed Meeting Live Updates: We are (now) significantly closer to neutral (with interest rates), says Jerome Powell
"I would say today was was a closer call. But we decided it was the right call because we thought it was the best decision to foster, achievement of both of our goals - maximum employment and price stability."
"Downside risks to the labour market do appear to have diminished, but the labor market is now looser than pre pandemic, and it's clearly still cooling further".
"We think the economy is in a really good place, and we think policy is in a really good place."
US Fed Meeting Live Updates: Jerome Powell says rate cut was a 'closer call' than recent decisions
Fed officials flag inflation concerns: A majority of Federal Reserve officials expressed concerns about a potential resurgence in inflation, suggesting this could warrant keeping rates higher for longer
US Fed Meeting Live Updates: Conditions in the labour market are now less tight than in 2019, says Jerome Powell
Overall, a broad set of indicators suggests that conditions in the labour market are now less tight than in 2019."
US Fed Meeting Live Updates: In the labour market, conditions remain solid, says Jerome Powell
"In our summary of economic projections, committee participants generally expect GDP growth to remain solid, with a median projection of about 2% over the next few years. In the labour market, conditions remain solid."
US Fed Meeting Live Updates: Inflation much closer to our 2% goal, says Jerome Powell
Jerome Powell's remarks
Inflation much closer to our 2% goal.
"Recent indicators suggest that economic activity has continued to expand at a solid pace."
"The economy is strong overall and has made significant progress toward our goals over the past two years."
"We're committed to maintaining our economy's strength by supporting maximum employment and returning inflation to our 2% goal."
US Fed Meeting Live Updates: Stock indices turn negative as Fed signals fewer rate cuts
Major indexes declined sharply after the Federal Reserve indicated fewer rate cuts in 2025 than previously expected. The S&P 500 fell nearly 0.4 percent, while the Nasdaq Composite also lost about 0.4 percent. The Dow Jones Industrial Average, down roughly 100 points, is on track for its 10th consecutive losing session.
US Fed Meeting Live Updates: Fed forecast pressures markets
The Federal Reserve's updated outlook, projecting fewer rate cuts in 2025, weighed on investor sentiment. Earlier gains in the Dow Jones Industrial Average were erased, while the S&P 500 and Nasdaq Composite extended losses.
US Fed Meeting Live Updates: With today's cut, now the Fed rate is back to December 2022 level
In updated economic forecasts published alongside the decision, members of the Fed's rate-setting committee penciled in just two quarter-point rate cuts in 2025
US Fed Meeting Live Updates: The main takeaways so far from the anouncement
The Fed has cut U.S. interest rates for the third straight meeting, this time by 25 basis points to 4.25%-4.50% range.
It also adjusted another more technical part of its rate control toolkit, lowering the rate it offers on its reverse repo facility by more than it cut the federal funds rate.
The reverse repo rate will now stand at 4.25% from its prior level of 4.55%, marking a 30 basis point easing, while it lowered the federal funds target rate range by a quarter percentage point to between 4.25% and 4.5%.
The Fed vote in favor of a rate cut was 11-1; Cleveland Fed President Hammack was the lone dissenter, preferring to leave the policy rate unchanged.
New projections showed stronger growth and stronger inflation now expected in 2025.
Fed projections show two quarter-point interest-rate cuts next year amid rising inflation.
U.S. rate futures now price in a more than 90% chance that the Fed will hold rates at its January meeting.
US Fed Meeting Live Updates: Officials reduced their 2025 unemployment forecasts and raised their 2025 inflation projection
Fed officials reduced their 2025 unemployment forecasts and raised their 2025 inflation projections to 2.5 percent, up from 2.1 percent in their September outlook.
US Fed Meeting Live Updates: Fed policymakers project two quarter-point rate cuts next year
The Fed has issued fresh projections calling for two quarter-point interest-rate cuts next year amid rising inflation.
That forecast is consistent with a wait-and-see approach come January as Donald Trump starts his second four-year stint in the White House.
The Federal Reserve's latest quarterly summary of economic projections shows policymakers expect inflation by the Fed's targeted metric to end this year at 2.4% and 2025 at 2.5%.
US Fed Meeting Live Updates: Fed cuts US interest rates to 4.25%-4.50% range
Fed cuts US interest rates to 4.25%-4.50% range
US Fed Meeting Live Updates: Fed’s Bowman has called for caution on rate cuts
Federal Reserve Governor Michelle Bowman said earlier this month that inflation risks to the economy remain real and labor market data hard to interpret.
As a result, caution is warranted with further decisions on central bank rate cuts, she said.
Bowman dissented against the size of the Fed's September rate.
“I continue to see greater risks to the price stability side of our mandate, especially when the labor market continues to be near full employment,” Bowman said.
US Fed Meeting Live Updates: Will the Fed factor Trump’s plans into their projections?
So far Federal Reserve policymakers have said it is too soon to factor President-elect Donald Trump’s policies into forecasts.
Though meeting records from eight years ago show a majority of Fed policymakers did just that, bumping up estimates for economic momentum and interest rates to reflect the expected effect of Trump’s tax cuts and other policies.
Fed policymakers are expected to deliver a third interest rate cut and to update their forecasts for growth, unemployment and inflation.
US Fed Meeting Live Updates: Challenges for Jerome Powell
Next year will likely be Jerome Powell's last full one at the helm of the U.S. central bank, with his term due to expire in May 2026.
Powell's time as Fed chief has been consequential, but the coming months could present new challenges as well as an opportunity to close out some unfinished business.
US Fed Meeting Live Updates: Stocks, bonds in wait-and-see mode before Fed
US stocks swung between modest gains and losses with traders reluctant to commit to any big moves before hearing the Federal Reserve’s outlook for next year.
The S&P 500 rose 0.1% while the Nasdaq 100 continued to waver. The yield on the 10-year Treasury hovered around 4.38%. Bloomberg’s gauge of the dollar went back to being little changed
US Fed Meeting Live Updates: Inflation a big 'Fedache'
The one big issue the Fed faces is that progress getting inflation back toward its 2% target has virtually stalled.
Data last week showed consumer prices increasing at the fastest rate in seven months, at a clip of 2.75% year-on-year.
A Reuters/Ipsos poll published last month also showed Americans see inflation as the top issue President-elect Donald Trump needs to tackle during his first 100 days in office.
Economists have warned, however, that Trump’s plans to impose global trade tariffs and cut U.S. taxes are likely to fuel inflation.
US Fed Meeting Live Updates: Oil rises 1% after US crude stocks fall, investors eye Fed's next move
Oil prices rose on Wednesday after U.S. crude inventories fell and as investors eyed a potential interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.
Brent futures shot up more than $1 at their session high, and were up 86 cents, or 1.18%, to $74.02 a barrel at 11:57 a.m. ET. U.S. West Texas Intermediate crude was up $1.06, or 1.51%, to $71.14.
US Fed Meeting Live Updates: US, European stocks edge higher in anticipation of Fed's 'hawkish cut'
U.S. and European shares moved higher in early trading on Wednesday, as investors looked ahead to the Federal Reserve's policy rate decision due later in the session.
Crude prices rebounded and the dollar gained strength in advance of the U.S. central bank taking stage later in the day.
"We could be due for a bit of a relief, you know, after Chair Powell's press conference as the market digests a new set of projections and outlook for policy," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina, to news agency Reuters.
US Fed Meeting Live Updates: US stocks rises ahead of rate cut decision
U.S. and European shares moved higher in early trading on Wednesday, as investors looked ahead to the Federal Reserve's policy rate decision due later in the session.
Crude prices rebounded and the dollar gained strength in advance of the U.S. central bank taking stage later in the day.
US Fed Meeting Live Updates: US stocks grind higher before Fed
US stocks climbed as investors braced for the Federal Reserve’s final policy decision of 2024 and its outlook for next year.
The S&P 500 rose 0.3% while the Nasdaq 100 fluctuated between modest gains and losses. The Dow Jones Industrial Average jumped, putting it on track to snap its longest losing streak since 1978. The yield on the 10-year Treasury hovered around 4.40%.
US Fed Meeting Live Updates: Fed expected to combine interest rate cut with hawkish 2025 outlook
The Federal Reserve is expected to lower borrowing costs on Wednesday in what some observers are calling a "hawkish cut" set to be delivered alongside policymakers' updated interest rate outlooks and economic forecasts covering the first months of the incoming Trump administration.
US Fed Meeting Live Updates: Oil edges up ahead of US Fed rate decision
Oil edged up on Wednesday as a drop in U.S. crude inventories offered some support, although investors stayed cautious ahead of a potential interest rate cut by the U.S. Federal Reserve and its projections for 2025.
Brent futures rose 53 cents, or 0.7%, to $73.72 a barrel at 1436 GMT, while U.S. West Texas Intermediate crude climbed 54 cents, or 0.8%, to $70.62.
US Fed Meeting Live: US stocks fluctuate in countdown to Fed rate cut decision
US stocks struggled for direction as investors waited for the Federal Reserve’s final policy decision of 2024.
The S&P 500 was little changed while the Nasdaq 100 fell 0.4% after both gauges retreated on Tuesday.
US Fed Meeting Live: All the attention will be on the Fed commentary, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The focus of global markets today will be the Fed decision expected tonight. A 25 bps rate cut is priced-in by the market. So, the attention will be on the Fed commentary," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
US Fed Meeting Live: Growth is definitely stronger than we thought, and inflation is coming in a little higher, said Jerome Powell recently
Fed officials have underscored that they are slowing their rate reductions as their benchmark rate nears a level that policymakers refer to as “neutral” — the level that neither spurs nor hinders the economy.
“Growth is definitely stronger than we thought, and inflation is coming in a little higher,” Powell said recently. “So the good news is, we can afford to be a little more cautious as we try to find neutral."
US Fed Meeting Live: US Treasuries slipped ahead of the Fed announcement
The yield on the 10-year note has surged about 80 basis points since September as traders rethink their outlook for inflation and policy easing.
US Fed Meeting Live: Gold stalls ahead of Fed rate decision, focus on 2025 outlook
Gold prices were little changed on Wednesday as investors remained cautious ahead of the U.S. Federal Reserve's policy decision, which is also expected to offer guidance on its outlook for next year.
Spot gold inched down 0.1% to $2,643.79 per ounce by 1256 GMT. U.S. gold futures fell 0.1% to $2,659.80.
"Gold price actions are less of an arrow, more of a feather at the moment and sort of drifting on book squaring," independent analyst Ross Norman said to news agency Reuters.
US Fed Meeting Live: Why Nifty lost 600 points in 3 days ahead of US Fed decision, and how markets may move till next RBI MPC meet
India’s share market has fallen for three straight sessions with Nifty losing nearly 600 points since Monday, as cautious investors booked profits following a sharp rally ahead of the US Federal Reserve’s policy announcement due later today. Read More
US Fed Meeting Live: Dollar climb before Fed rate decision
Stock markets mostly climbed and the dollar steadied against main rivals Wednesday with the US Federal Reserve set to cut interest rates.
- Key figures around 1045 GMT -
London - FTSE 100: UP 0.3 percent at 8,216.08 points
Paris - CAC 40: UP 0.3 percent at 7,385.05
Frankfurt - DAX: UP 0.3 percent at 20,311.53
Tokyo - Nikkei 225: DOWN 0.7 percent at 39,081.71 (close)
Hong Kong - Hang Seng Index: UP 0.8 percent at 19,864.55 (close)
Shanghai - Composite: UP 0.6 percent at 3,382.21 (close)
New York - Dow: DOWN 0.6 percent at 43,449.90 (close)
Euro/dollar: FLAT at $1.0498
Pound/dollar: UP at $1.2709 from $1.2707
Dollar/yen: UP at 153.59 yen from 153.41 yen
Euro/pound: UP at 82.61 pence from 82.52 pence
Brent North Sea Crude: UP 0.6 percent at $73.59 per barrel
West Texas Intermediate: UP 0.6 percent at $70.09 per barrel
US Fed Meeting Live: When, where, how to watch US Federal Reserve Board Chair Jerome Powell's December FOMC meeting
The key policy announcement will be made on December 18 at 2 p.m. ET. (12:30 am IST). The Federal Open Market Committee projections will also be released along with the decision on the rate cut. After the meeting concludes, US Fed Chair Jerome Powell will address the media at 2:30 p.m. ET (1:00 am IST, Wednesday). Read More
US Fed Meeting Live: Federal Reserve is set to cut key rate but consumers might not feel much benefit anytime soon
Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards.
The Fed is set to announce a quarter-point cut to its benchmark rate, from about 4.6% to roughly 4.3%. The latest move would follow a larger-than-usual half-point rate cut in September and a quarter-point reduction in November.