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4 mentions found


☆ The Fed just paused on raising interest rates. Here's what it means for jobs, prices, and your bank account this summer.
  + stars: | 2023-06-14 | by ( Bartie Scott | Andy Kiersz | ) www.businessinsider.com   time to read: +7 min
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
☆ The Federal Reserve paused its interest-rate hikes after 10 consecutive increases
  + stars: | 2023-06-14 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +7 min
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
☆ More banks could soon fail - but that could end up being good news for stocks
  + stars: | 2023-03-14 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +7 min
Still, no matter what the Consumer Price Index clocks in at, it's possible that the failures of Signature Bank and Silicon Valley Bank already convinced Jerome Powell to take his foot off the gas. Silicon Valley Bank employees react to the bank's collapse Getty Images1. With the government rescuing Signature and Silicon Valley Bank depositors, not all the downside has been contained, according to Wharton finance professor, Itamar Drechsler. Silicon Valley Bank's CEO, Greg Becker, previously asked Congress to ease regulatory oversight on the bank. But, as Jefferies analysts put it, "the world changed" with Silicon Valley Bank's failure.
☆ The CIO of Morningstar Wealth's Americas unit explains why investors focused on the next recession are missing the point — and shares the market areas to buy now for profits in any economy
  + stars: | 2023-03-13 | by ( Lisa Kailai Han | ) www.businessinsider.com   time to read: +6 min
Marta Norton believes that investors hyper-focused on the next recession are missing the point. A glance at the current US economy certainly doesn't paint a very rosy picture for investors. "Very long term return prospects across equities and fixed income are better today than they were a year ago, but markets still aren't priced to really attractive levels," she added. Globally, Norton is also bullish on the communication services due to the sector's attractive valuations and diversification benefits, since some companies have both value and growth characteristics. Norton is also overweight healthcare and consumer staples, two defensive sectors that are more resilient to market volatility and earnings declines.
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