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The Federal Reserve announced it's pausing interest-rate hikes at its Wednesday meeting. This comes after 10 consecutive interest-rate increases in 15 months. The Federal Open Market Committee (FOMC) announced it's holding interest rates steady at its Wednesday meeting, putting a pause on the central bank's 10 consecutive increases in 15 months. "Without a meaningful downside surprise in both jobs and inflation, a final interest-rate hike remains in the cards for July." Following the failures of Silicon Valley Bank and First Republic Bank, credit conditions tightened, in part pushing the Fed to skip this month's rate hike amid a lending pullback.
Persons: , Jerome Powell, Powell, Seema Shah, Shah, Thomas Simons, Simons, Marta Norton, Kathy Gramling, Gramling, Norton, there's, Price Organizations: Federal Reserve, Service, Market, Fed, Asset Management, Jefferies, Valley Bank, First Republic Bank, Morningstar Wealth's America, EY, Consumer, Morningstar Wealth, Norton
The Federal Reserve announced Wednesday that it would not raise interest rates this month. It's important to note that a one-time pause doesn't mean interest rates won't rise any more at future meetings, but the committee signaled that an end is in sight. The decision included a projection of two more 25 basis point rate hikes before the end of the year. Critics of the Fed's aggressive rate hikes over the last year have said they risk putting Americans out of work by squeezing businesses. The Fed needs to slow down on these extreme rate hikes and remember its dual mandate of price stability and maximum employment.
Persons: , Jerome Powell, Noah Sheidlower, Jobs, Massachusetts Sen, Elizabeth Warren, Powell, it's, Joe Brusuelas, Brusuelas, Kathy Gramling, Marta Norton, Norton Organizations: Federal Reserve, Service, Fed, Capital Economics, Food, RSM, EY, Morningstar Wealth's America, Silicon Valley Bank, First, FDIC Locations: Massachusetts, EY Americas, Silicon, First Republic
Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.
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