US EditionWall Street ends lower after Fed keeps rates unchanged
The Federal Reserve signals only a modest rate cut this year amid rising oil prices caused by attacks on Iranian facilities, with major U.S. stock indexes falling over 1%.
- On Wednesday, the U.S. Federal Reserve held its benchmark rate at 3.5%–3.75% and projected only one modest rate cut this year, sending major stock indexes lower as Wall Street absorbed the hawkish signal.
- A surge in Brent crude toward $110 a barrel followed reports of attacks on Iranian oil facilities in South Pars and Asaluyeh, while U.S. producer prices jumped 3.4% year-on-year, exceeding economists' 2.9% forecast.
- Market breadth showed divergence as Advanced Micro Devices gained after expanding a memory partnership with Samsung Electronics while Nvidia dipped despite Beijing approval to sell powerful AI chips; Lululemon and Macy's surged on earnings.
- The Fed's Summary of Economic Projections raised its headline PCE inflation forecast to 2.7%, while Federal Reserve Chair Jerome Powell warned that AI data-center building booms are exerting upward price pressure on goods and services.
- Amid soaring energy costs, the White House announced a 60-day Jones Act waiver allowing foreign-flagged vessels to move fuel and fertilizer between U.S. ports as national average gasoline prices jumped over $3.84.
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36 Articles
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Mortgage Rates May Keep Rising Even as Fed Holds Steady
The Federal Reserve voted to hold the overnight borrowing rate steady Wednesday, which analysts had widely expected. Mortgage rates increased in the lead up to today’s Fed meeting, as markets prepared for rising inflation fueled by spiking oil prices. When…
US stock market today: Wall Street declines as Fed keeps rates steady, flags inflation risks; Dow hits 4-month low
US stocks fell after the Federal Reserve kept interest rates unchanged, anticipating higher inflation due to Middle East tensions. The Dow dropped 1.3%, with the S&P 500 and Nasdaq declining 1%.
Wall Street traded lower on Wednesday after the Federal Reserve held U.S. interest rates steady and projected only a single rate cut for the year as officials took stock of economic risks from the...
The Federal Reserve (Fed) chooses to wait and deal with interest rates and keeps the rates in a target range of between 3.5-3.75%. The agency settles one of the last monetary policy meetings with Jerome Powell at the front unchanged for the second time consecutively in the year and begins to cool the possibility of cuts with the challenge of fulfilling the dual mandate entrusted to the central bank, which combines the objective of price stabilit…
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