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☆ Radical Christians in South Korea Are Spreading a Homophobic Conspiracy Theory - The New York Times
▼ + stars: | 2024-04-28 | by ( Raphael Rashid | ) www.nytimes.com time to read: +1 min

Since South Korean voters delivered a full-throated rebuke of their conservative president this month, a small but influential group has been on edge. The country has no national law that explicitly prohibits unfair treatment based on race or ethnicity, language or sexual orientation. The bylaws’ critics argue that the so-called student human rights ordinances overemphasize students’ rights and downplay the rights of teachers. The conservative campaign must be seen for what it is: part of a concerted effort to erase L.G.B.T.Q. visibility from schools and ultimately, South Korean society.

Persons: it’s Organizations: South, Organization for Economic Cooperation, Development Locations: Korea, Japan, Turkey, South Korean

☆ Breasts take center stage at Venice Biennale exhibition
▼ + stars: | 2024-04-22 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

CNN —What is one of the earliest and enduring subjects in art and media — as well as one of the most censored? And these are all themes explored broadly in the exhibition “Breasts,” a robust survey on display at the 60th Venice Bienniale. “It’s very intimate, so it’s perfect for international artists to develop a dialogue with each other,” she said in a video call. “Artists keep going back to it.”“It’s been a wonderful moment to contemplate my own relationship with the meaning of breasts,” she added of the show. Scroll to see artworks from the show, which will run through November 24 at the Palazzo Franchetti.

Persons: they’re, Cindy Sherman, Robert Mapplethorpe, Salvador Dalí, Anna Weyant, Chloe Wise, Lakin, Carolina Pasti, “, ”, Bernardino del Signoraccio, Sherman, Jesus, Del, Raphael, Flavio Gianassi, we’ve, Teniqua Crawford, “ It’s, Todd White, Europe Allen Jones, Maggiore Allen Jones, Maggiore Laura Panno, Christopher Bucklow, Tetrarch, Claudia, Schiffer, Christopher Bucklow Giorgio de Chirico, Nudo, Turin Louise Bourgeois Organizations: CNN, Venice Bienniale, Artists, Buchanan Studio, Maggiore Locations: Venice, Europe, Italy

☆ Treasury yields fall as investors weigh economic data, Fed comments
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points. U.S. Treasury yields declined on Friday as investors considered the latest economic data and remarks from Federal Reserve officials, and considered what this could mean for monetary policy. Investors digested the latest economic data and remarks from policymakers as they considered the outlook for interest rates. Fed officials have in recent days and weeks indicated that interest rates may remain elevated for longer than previously anticipated. Elsewhere, Atlanta Fed President Raphael Bostic said rate cuts may not come until the end of the year, and that he was "comfortable being patient," while Minneapolis Fed President Neel Kashkari suggested rate cuts may not begin until 2025.

Persons: John Williams, Raphael Bostic, Neel Kashkari, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, New York Fed, Atlanta Fed, Minneapolis, Investors, NBC News Locations: Philadelphia, Israel

☆ A low-cost way to protect against further market declines and position for an eventual comeback
▼ + stars: | 2024-04-19 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

I want to protect further downside in the broader U.S. equity market despite the fact that S & P 500 has had an acute drop of more than 5% off its recent 2024 highs. I do believe that we are still in a bull market, but the headwinds are strong in the current market conditions. .SPX YTD mountain S & P 500 YTD Lastly, markets are contending with corporate earnings season. Per my friends at Factset, the S & P 500's valuation on a forward 12-month P/E ratio is 20.6. DISCLOSURES: (Long this spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Raphael Bostic Organizations: Treasury, Federal Reserve, Federal Reserve Bank of Atlanta, Big Tech, Trust Locations: Israel, Iran, Factset

☆ China’s growing love of luxury watches remains strong, despite economic headwinds
▼ + stars: | 2024-04-19 | by ( Leona Liu | ) edition.cnn.com time to read: +9 min

Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.

Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, ”, Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, “ Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, “, Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, “, Asia — China, Guadalupe, Swiss, watchmaking

He was a model to me of artistic labor and discipline, even if those early paintings were painfully amateurish. The painting followed me from Amherst to my first job in New York, and on to London and Delhi. IT WASN’T MY intention to start an essay about artistic beginnings with a story of artistic death. I’m especially moved by those first moments of validation by which an artist comes out to himself, as it were. It’s this, the inexorability of the correspondence between an artist and the world, that gives those first steps their magical quality.

Persons: Naipaul, Neil Shah, James Wood —, Zack, who’d, ”, Artemisia Gentileschi, Susanna, Elders ”, I’m, ” Gustave Flaubert, “, ” Zack, it’s, Bruce Chatwin, Paul Gauguin, Salman Rushdie, Somerset Maugham, Kathryn Bigelow, Philip Glass, Arundhati Roy, Booker, Joseph Conrad, Conrad, Jacques, ” Conrad, brimming, ’, ’ ”, Clarice Lispector, Benjamin Moser, ” Lispector, Maugham, eludes, Jan van Kessel, Elder, — Pieter Bruegel, —, Rebecca West —, “ Black Lamb, J.R, Hammond, Wells, Rebecca West ”, sloughed, Henrik Ibsen’s, Rosmersholm ”, Karan Mahajan, Salman Toor, what’s, ” Hemingway, Anoushka Shankar, Ravi Shankar, Harold Bloom, Ravi, Uday, René Daumal, Rasa ”, ” Anoushka, Norah Jones, Norah, I’ve, “ Raphael, Rachel Cusk, Italy ”, Perugino, Raphael, Cusk, J.M, Samuel Beckett, Gabriel García Márquez, Thomas Pynchon’s, James Joyce, Michelangelo, Leonardo da Vinci, Marcel Proust’s, Fyodor Dostoyevsky, Read, Emma Kehlbeck, Quinton Kamara Organizations: Amherst College, Elders, Fayerweather, ”, Google, Sunday Times, Somerset, Yugoslavia, The, “, . Locations: Delhi, ”, Massachusetts, Italian, Topeka, Kan, Amherst, New York, London, Patagonia, New Delhi, Torrens, Cambridge, Polish, Ukrainian, Brazil, Flemish, Victorian England, “ H.G, Fairfield, United States, “, East, Lahore, Europe, America, Texas, Side, Manhattan, India, Italy

He was a model to me of artistic labor and discipline, even if those early paintings were painfully amateurish. IT WASN’T MY intention to start an essay about artistic beginnings with a story of artistic death. No one captured the massive cultural and economic disparities of my life in Delhi (and his in Lahore) like Toor. But quite unbeknown to me, Toor’s life in New York had opened up a new vein of material. Not everyone who sees a Michelangelo can go off and paint a Michelangelo.”THERE ARE SO many ways to begin.

☆ Why Georgia continues to be a jump ball for Biden and Trump ahead of November
▼ + stars: | 2024-04-14 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Both Biden and Trump view Georgia as a highly-coveted electoral prize in the 2024 election. AdvertisementSo Georgia remains a highly-competitive swing state, with both Biden and former President Donald Trump hoping to win its 16 electoral votes. A view of the gold-domed Georgia State Capitol and downtown Atlanta. In last month's Georgia GOP presidential primary, Trump easily defeated his onetime opponent, former UN ambassador Nikki Haley. A bulk of Haley's voters came from the Atlanta metropolitan area, primarily in suburbs where Trump was tripped up by Biden in 2020.

Persons: Biden, —, Joe Biden's, Raphael Warnock, Jon Ossoff, Brian Kemp's, Stacey Abrams, Donald Trump, Brynn Anderson, Trump, Biden eked, Steve Helber, Henry, Barack Obama, Jason Allen Will, Nikki Haley, Haley, weren't, Kemp, Brad Raffensperger, Raffensperger Organizations: Biden, Trump, Service, Black, Democratic, Georgia, Republicans, GOP, CBS News, Marist, Marist Georgia Poll, Georgia State Capitol, AP, The, Cobb, Fulton County Locations: Georgia, Atlanta, Arizona , Michigan, Nevada , North Carolina , Pennsylvania, Wisconsin, The Atlanta, Fulton County, Gwinnett, Clayton , DeKalb

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

☆ Arizona Ruling Spurs Strong Reactions, but Election Impact Is Unclear
▼ + stars: | 2024-04-10 | by ( Jack Healy | Rowan Moore Gerety | ) www.nytimes.com time to read: +1 min

Pam Raphael pulled up to the Arizona State Capitol on Tuesday afternoon bearing ice-cold treats and red-hot anger. “I am disgusted,” Ms. Raphael, 50, said as she walked toward a rally by Democrats railing against the decision. The decision upending abortion care in a critically important battleground state inspired passionate reactions from Arizonans across the political divide, ranging from elation to disgust. Many Democrats, moderate independents and some Republicans said the Arizona Supreme Court had gone too far. But it was far from clear Tuesday that the decision would tip the balance in the November presidential election.

Persons: Pam Raphael, “, ” Ms, Raphael Organizations: Arizona State Capitol, Arizona Supreme Locations: Arizona

☆ Opinion | After I Lost My Son, I Realized I Needed to Stop Looking for Closure
▼ + stars: | 2024-04-08 | by ( Liz Jensen | ) www.nytimes.com time to read: +1 min

Four years ago, I got the news that every parent dreads. Without warning, my healthy 25-year-old son, Raphaël — a wildlife biologist and an environmental activist — had collapsed and died, likely from a rare heart disorder nobody knew he had. You no longer see your life in the same way afterward. But must grief diminish you, or can it do the opposite? And the emotional arc of both, I came to believe, could create the strength and purpose needed to navigate an increasingly unstable future.

Persons: Raphaël, —

☆ Fed Governor Bowman says additional rate hike could be needed if inflation stays high
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Noting a number of potential upside risks to inflation, Bowman said policymakers need to be careful not to ease policy too quickly. "Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2 percent over the longer run." The speech, to the Shadow Open Market Committee, comes with markets on edge about the near-term future of Fed policy. Weighing inflation risks, she said that supply-side improvements that helped bring numbers down this year may not have the same impact going forward. Fed officials will get their next look at inflation data Wednesday, when the Labor Department releases the March consumer price index report.

Persons: Michelle Bowman, Bowman, Jerome Powell, Raphael Bostic, Neel Kashkari Organizations: Federal, of Governors, Market, Committee, Atlanta Fed, CNBC, Minneapolis Fed, Fed, Labor Department Locations: New York

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ Watch Fed Chair Powell speak live at Stanford policy conference economic forum
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Wednesday to the Stanford Business, Government and Society forum. But he also said the timing isn't certain and policymakers need more evidence that inflation is moving toward the Fed's 2% goal. Atlanta Fed President Raphael Bostic said Wednesday he thinks there could be just one cut this year, though his colleagues on the Federal Open Market Committee have indicated three. Markets expect the Fed to start down the path of easing in June or July, with a total of three cuts coming by the end of 2024.

Persons: Jerome Powell, Powell, Raphael Bostic, Bostic, Steve Eisman Organizations: Stanford Business, Government, Society, Atlanta Fed, Federal, Read, Fed, CNBC, YouTube

☆ Fed's Powell emphasizes need for more evidence that inflation is easing before cutting rates
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Bank Chair Jerome Powell speaks during the Stanford Business, Government and Society Forum at Stanford University on April 03, 2024 in Stanford, California. Justin Sullivan | Getty ImagesFederal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain. "We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2 percent," he added. "Recent readings on both job gains and inflation have come in higher than expected," Powell said. The uncertainty about rates has caused some consternation in markets, with stocks falling sharply earlier this week as Treasury yields moved higher.

Persons: Jerome Powell, Justin Sullivan, Powell, Raphael Bostic, Mary Daly, Cleveland's Loretta Mester Organizations: Bank, Stanford Business, Government, Society, Stanford University, Getty, Federal, Market, Atlanta Fed, CNBC, San Francisco Fed, Group Locations: Stanford , California

☆ Stock futures turn higher following third straight day of losses for the Dow: Live updates
▼ + stars: | 2024-04-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on April 02, 2024 in New York City. U.S. stock futures rose Wednesday night after the Dow Jones Industrial Average registered its third straight losing session. Investors' fears that the Federal Reserve may keep rates higher longer have weighed on stocks this week. The result trounced Dow Jones' estimate of 155,000 and spurred investors' fears that rates may indeed stay higher longer. "I don't think that the Fed really has any reason to cut rates.

Persons: Dow, Jerome Powell, Raphael Bostic, Dow Jones, Larry Tentarelli Organizations: New York Stock Exchange, Dow Jones Industrial, Dow, Nasdaq, Federal Reserve, Atlanta Fed, CNBC, Federal, ADP, Treasury, Blue Locations: New York City . U.S, U.S

☆ Atlanta Fed President Raphael Bostic: Expect one rate cut in the fourth quarter of this year
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAtlanta Fed President Raphael Bostic: Expect one rate cut in the fourth quarter of this yearCNBC’s Steve Liesman and Atlanta Fed President Raphael Bostic join 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, how many rate cuts Bostic expects this year, and more.

Persons: Raphael Bostic, Steve Liesman Organizations: Atlanta, Atlanta Fed

☆ The politics of religion as Trump sells Bibles and Biden is criticized over Easter eggs
▼ + stars: | 2024-04-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —Former President Donald Trump is literally selling religion to his followers in the form of commemorative Bibles, while President Joe Biden is being criticized by Republicans for allegedly disrespecting the Easter holiday. The version of the Bible Trump is selling also includes the US Constitution and other founding documents. “The Biden White House has betrayed the central tenet of Easter—which is the resurrection of Jesus Christ,” House Speaker Mike Johnson wrote on X, formerly known as Twitter. More than 30% of Americans might qualify as sympathetic to Christian nationalism when it is defined within the idea that America was meant by God to be a Christian nation. People sympathetic to Christian nationalism are also more likely to condone the idea that political violence may be justified.

Persons: Donald Trump, Joe Biden, Biden, Trump, ”, CNN CNN’s AJ Willingham, Jemar Tisby, Willingham, “, ” Tisby, Sen, Raphael Warnock, CNN’s Dana Bash, Warnock, Feedback Sen, CNN Biden, Wilton Cardinal Gregory, Gregory, ’, ” Gregory, “ The, Jesus Christ, Mike Johnson, Easter, ” Johnson, Johnson, MAGA, Robert Jones Organizations: CNN, Bible Trump, Georgia Democrat, Ebenezer Baptist Church, “ The Biden White, Conservative, Pew Research Center, PRRI, ”, Republican Party Locations: Ebenezer, Atlanta, Washington, America, Massachusetts, Oregon, North Dakota, Mississippi

The Republican outrage machine kicked into gear over Easter weekend after President Biden noted that Sunday was being celebrated for more than one reason. International Transgender Day of Visibility is observed every year on March 31. This year, for the second time since Transgender Day of Visibility was established 15 years ago, and the last time until 2086, the two happened to coincide. President Biden publicly honored both of them, as he has done every year since he took office in 2021. He centered the poor,” Mr. Warnock said on CNN on Sunday.

Persons: Biden, Mr, ”, ” Karoline Leavitt, Donald J, Trump, Jesus Christ, Mike Johnson, “, Marsha Blackburn of, Raphael Warnock of, “ Jesus, Warnock, ” Ms, Leavitt, Johnson, ” Andrew Bates, Bates, Bud Light, Biden’s Organizations: Republican, CNN Locations: Marsha Blackburn of Tennessee, Raphael Warnock of Georgia

☆ ‘I am so scared of them now’: Burned from overspending, some ‘buy now, pay later’ users warn others away
▼ + stars: | 2024-03-30 | by ( J.J. Mccorvey | ) www.cnbc.com time to read: +8 min

But the $6,000 in BNPL loans she'd racked up over roughly two years felt frivolous, she said, especially because they're planning to buy their first home. Many are seeking cover from high credit card interest rates. After trimming her discretionary spending and sticking to home-cooked meals, she said she's been able to whittle down her BNPL debt to about $1,200. Klarna said it had responsible spending limits for its users, whose average outstanding balance is $150, compared to the more than $6,000 for credit card users. Baird, for her part, acknowledged BNPL services can make inflation and high interest rates feel "easier" for those who can keep their shopping impulses under control.

Persons: Tia Whiteside, Whiteside, she'd, Dyson, she's, Marcus, whittle, Ben Lourie, Lourie, aren't, I've, Amy Baird, Baird, Kevin Mahoney, Mahoney, —, Afterpay, Klarna, Sen, Sherrod Brown, Raphael Warnock, John Fetterman, Brown Organizations: LexisNexis, Solutions, University of California, UC Irvine, Singapore Management University, PayPal, Consumer Financial Protection Bureau, Financial, D.C, Sens, NBC News Locations: Greenville , South Carolina, Irvine, Stanford, Dallas, Washington, Ohio

☆ Fed Chair Jerome Powell signals rate cuts aren’t imminent
▼ + stars: | 2024-03-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

But the Fed is prepared to ignore Wall Street’s hope for a rate cut in June if it feels the economy isn’t ready yet. That’s the message Fed Chair Jerome Powell delivered on Friday. Powell wasn’t fretting about it though, saying that it was “pretty much in line with our expectations.”Why wait to cut then? “This is an economy that doesn’t feel like it’s suffering from the current level of rates,” Powell said. Like Powell, several Fed officials have conveyed they’re more concerned about cutting too soon than prolonging the status quo.

Persons: Jerome Powell, “, ”, Powell, Powell wasn’t, there’s, ” Powell, Raphael Bostic, Powell’s, Donald Trump, he’s, Joe Biden —, Powell — Organizations: New, New York CNN, Federal Reserve, San Francisco Fed, Atlanta Fed, Republican Locations: New York

☆ Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
▼ + stars: | 2024-03-28 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.

Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC

☆ Fed officials are now considering fewer rate cuts this year
▼ + stars: | 2024-03-26 | by ( Elisabeth Buchwald | Bryan Mena | ) edition.cnn.com time to read: +7 min

That’s because some Federal Reserve officials are reconsidering forecasts they made three months ago that called for three rate cuts this year. The stakes are high because there are consequences if the Fed cuts rates soon or if it leaves rates where they’ve been for the past eight months. First rate cut hinges on inflation dataIn February, Bostic told CNN that the first rate cut could come “sometime in the summertime.” That’s also Wall Street’s current expectation. He hasn’t specified — and is unlikely to signal — the number of rate cuts he believes are appropriate for this year. He has cheered inflation’s descent and said further improvement could open the door to rate cuts — if that actually bears out.

Persons: they’ve, Raphael Bostic, ” Bostic, Bostic, That’s, Powell hasn’t, Price, Nam, ” David Page, Powell, Rather, Jerome Powell, Chip Somodevilla, Lisa Cook, Austan Goolsbee, ”, we’ve, we’re, Goolsbee, Christopher Waller Organizations: CNN, Federal Reserve, Atlanta Fed, Index, AXA, Federal, ”, Harvard University, Chicago, Yahoo Finance, Fed, San Francisco Fed Locations: New York

The yield on the 2-year Treasury yield was flat at 4.593%. The 10-year U.S. Treasury yield fell slightly on Tuesday as investors weighed the previous day's data points and looked ahead to key inflation figures later in the week. Last week, the central bank indicated that rates will fall this year, although Chairman Jerome Powell stressed that the economic outlook remains uncertain. The Dallas Fed manufacturing index for March also fell to -14.4, below expectations, although the Chicago Fed national activity index improved. There are also several auctions on the slate, including of 17-week, 4-week and 8-week Treasury bills.

Persons: Jerome Powell, Raphael Bostic, Jim Reid, Reid Organizations: Treasury, Federal Reserve, Atlanta Fed, Deutsche, Dallas Fed, Chicago Fed, Richmond Locations: U.S

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