US Stock Market today: The benchmark stock market indices on Wall Street cracked after the US Federal Reserve Chairman Jerome Powell announced that a potential rate cut in the Fed’s December policy is not a ‘foregone conclusion’ and quite far from the real picture.
“A further reduction in the policy rate at the December meeting is not a foregone conclusion,
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Inflation may be stuck around 3%, but Fed Chair Jerome Powell says the story underneath the surface is more nuanced — and in some ways, closer to the central bank’s target than it appears.
At the post-decision press conference, Powell broke down the September CPI report and the factors driving prices higher,
Canada’s largest pension fund will further boost its investments in India, where it has tripled assets under management over the last five years to about $22 billion, its top executive said.
The Toronto-based fund would focus on “real assets such as energy, infrastructure and real estate, where there is opportunity to invest at scale,” Canada Pension Plan Investment Board Chief Executive Officer John Graham said in a media briefing in Mumbai on Wednesday.
» Read more about: Canada Pension to Boost India Investments After Portfolio Surges to $22 Billion »
When it comes to investing, it can be tempting to think of risk tolerance as merely a matter of trepidation.
» Read more about: 16 Investments To Consider Ranked by Expected Return — From Safest to Riskiest »
THE Department of Trade and Industry (DTI) on Wednesday said some 224 stock-keeping units (SKUs) of basic necessities and prime commodities (BNPCs) have complied with their suggested retail prices during a monitoring visit to the Guadalupe Market in Makati.
SKUs are unique, alphanumeric codes assigned to a product by a business to internally track inventory.
» Read more about: SRP of basic goods stable in Makati market »
The Federal Reserve on Wednesday lowered its benchmark interest rate by 0.25 percentage points, marking its second consecutive rate cut this year as the U.S. economy contends with a sharp slowdown in hiring.
The Fed cut lowers the federal funds rate — what banks charge each other for short-term loans — to between 3.75% and 4%,
The Federal Reserve on Wednesday voted to lower interest rates again, the second straight month the central bank eased monetary policy after months of pressure and criticism from President Donald Trump, who has called for steeper cuts.
Some policymakers have expressed caution about lowering rates further,
» Read more about: Federal Reserve Lowers Interest Rates Again »
A divided U.S. Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and announced it will restart limited purchases of Treasury securities after money markets showed signs that liquidity was becoming scarce, a condition the U.S. central bank has pledged to avoid.
The rate cut, which included a nod to the data limits the central bank faces during the current federal government shutdown,
» Read more about: Federal Reserve leaders cut rates another quarter point »
By CHRISTOPHER RUGABER, AP Economics Writer
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.
“Job gains have slowed this year, and the unemployment rate has edged up but remained low through August,” the Fed said in a statement issued Wednesday.
» Read more about: Missing government data unlikely to sway Federal Reserve from rate-cut path »
