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The Marriner S. Eccles Federal Reserve building in Washington, DC, on June 25. Ting Shen/Bloomberg/Getty ImagesAfter all the hype that’s been brewing for over a year, you might think that once the Federal Reserve finally cuts interest rates the economy will look and feel completely different. Sure, the stock market could have some big swings the second the Fed releases its interest rate decision at 2 pm ET on Wednesday and when Fed Chair Jerome Powell speaks a half hour later. Mortgage rates and the interest rates Americans pay on a variety of loans will quickly drop as well. That’s because when the Fed lowers or raises rates, it takes a while for the full effect of those moves to be felt across the economy.

Persons: Ting Shen, there’s, Jerome Powell, Milton Friedman, Read Organizations: Eccles Federal Reserve, Bloomberg, Federal Reserve, Fed Locations: Washington ,

☆ Fed interest rate cut expected and global trail behind Hezbollah pager explosions: Morning Rundown
▼ + stars: | 2024-09-18 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +8 min

Fed expected to cut key interest rateChair of the U.S. Federal Reserve Jerome Powell speaks at the U.S. Capitol in July. Bonnie Cash / Getty ImagesThe Federal Reserve is poised to cut its key interest rate for the first time since the onset of the Covid pandemic in 2020. But mixed signals from the economy have some Wall Street traders predicting it’s more likely that there will be a 0.5% cut. It’s for Prime members only, so you’ll have to sign up in time if you want to shop. And did you know that in addition to free shipping, members also get benefits like Prime Video and Grubhub+.

Persons: Sean “ Diddy ” Combs, Jerome Powell, Bonnie Cash, Hsu Ching, kuang, Cristiana Bársony, Arcidiacono, Gold, “, ”, pagers, Sean ‘ Diddy ’ Combs, Combs, Mike Johnson, Trump, Donald Trump, Harris, Kamala Harris, Chuck Todd, Gisele Pelicot, Christophe Simon, I’m, don’t, Annie Hill, Elizabeth Robinson Organizations: U.S . Federal, U.S, Capitol, CNBC, Fed, Consulting, Prosecutors, of, National Association of Black Journalists, Republicans, NBC, Trump, Polaris, University of North Texas Health Science, The, Getty, Amazon Locations: Lebanon, Taiwan, Iran, Israel, Hungary, Southern, of New, Springfield , Ohio, Gaza, Ohio, San Diego, Mazan, France, AFP

The Federal Reserve is expected to announce Wednesday its first interest rate cut since 2020. While layoffs remain low, hiring has virtually ground to a halt, especially in some white-collar professions, making the job search process unusually difficult for many. That would entail a cut of at least 0.5% at some point by the time the Fed announces its interest rate in January. The Fed believes Wednesday's anticipated cut, and ones likely coming over the next several months, should put a floor under further economic deterioration. "Layoffs remain low, job openings remain high, GDP is growing at a healthy pace, and there have not been any major negative shocks," David Mericle, Goldman Sachs' chief U.S. economist, said in a note to clients.

Persons: Jay Bryson, Wednesday's, David Mericle, Goldman Sachs Organizations: Federal, Bank of America, Fed, NBC News, Citi Locations: U.S, Wells Fargo

☆ DEEP is building underwater habitats to ‘make humans aquatic’
▼ + stars: | 2024-09-18 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

Last week, DEEP announced a precursor to the Sentinel, a smaller underwater habitat which the company will use to develop systems for the Sentinel but will also be released as a separate product. An underwater habitat placed on the seabed near the wreck could have served as a base for divers instead, said Wolpert. OAR/National Undersea Research Program (NURP)Aquarius replaced Hydrolab after it was decommissioned. OAR/National Undersea Research Program (NURP)Dennison, of the University of Maryland, said Hydrolab was damp, cramped, lacked indoor plumbing, and had only three beds for four occupants. Wolpert said that DEEP is more than a habitat, it’s also a platform for engaging the next generation.

Persons: Sean Wolpert, Wolpert, ”, Fairleigh Dickinson University DEEP’s, Bill Dennison, “, Dennison, …, It's, Hydrolab, “ It’s, ” Wolpert, ” Craig McLean, Jacques Cousteau, –, III –, McLean, Ray Dalio, Victor Vescovo, Proteus, Fabien Cousteau, it’s Organizations: CNN, Sentinel, Space, Vanguard, Florida International University, NASA, Space Shuttle, SpaceX, Undersea Research Program, Fairleigh Dickinson University, University of Maryland’s Center, Environmental Science, Virgin Islands, University of Maryland, Oceanic, Atmospheric Administration, NOAA, Florida Keys National, of Naval Research Locations: Bristol, Sicily, Aquarius, Florida, Virgin, American, St . Croix, Miami

☆ What to do with your money as interest rates drop
▼ + stars: | 2024-09-18 | by ( Business Insider | ) www.businessinsider.com time to read: +4 min

The last time the Federal Reserve Board cut interest rates was in 2020. Read more on buying a house after interest rates drop »Read more on refinance rates after an interest rate drop »Your savings ratesExpect: Savings account and CD rates to start falling. Remember, though: High-yielding money market and savings accounts continue to outearn regular bank accounts even as rates drop. Read more on savings rates after an interest rate drop »Compare Banking OffersYour investmentsExpect: Short-term fluctuations that shouldn't affect long-term strategies. Read more on investing after an interest rate drop »Your credit card debtExpect: More of the same.

Persons: We're, Read, you've Organizations: Federal Reserve Board, Fed, overreacting, Federal

☆ Here's what Morgan Stanley, Wells Fargo stand to gain from lower interest rates
▼ + stars: | 2024-09-18 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

The Club has stayed with Morgan Stanley on expectations that its investment banking outfit will flourish again. At Wells Fargo , the Club's other financial name, lower rates should help its burgeoning investment banking business. Wells Fargo shares year-to-date have performed better than Morgan Stanley, gaining 11%. WFC YTD mountain Wells Fargo (WFC) year-to-date performance The Corporate and Investment Banking division makes up 23% of overall revenue. To be sure, Wells Fargo management said during July's second-quarter earnings call that the bank will continue to de-risk its office portfolio.

Persons: Banks, Erica Groshen, Morgan Stanley, Morgan, Jim Cramer, Jim, Goldman Sachs, Charlie Scharf, Wells, July's, Jim Cramer's, Jerome Powell, William McChesney Martin, Chip Somodevilla Organizations: Federal Reserve, New York Fed, CNBC, Cornell University, Fed, Investment, Morgan Stanley's Institutional Securities, Morgan Stanley's, Wells, Investment Banking, CIB, Federal Reserve Bank, Getty Locations: Wells Fargo, Wells, Washington ,

☆ Biotech stocks are an unappreciated way to profit from lower rates, Goldman says
▼ + stars: | 2024-09-18 | by ( Scott Schnipper | ) www.cnbc.com time to read: +3 min

Biotechnology stocks offer an under-the-radar and unappreciated way to profit from the central bank's looming campaign to start cutting the cost of borrowing, according to Goldman Sachs. Investors may have already begun to anticipate the effect of lower rates on some biotech companies. IBB .SPX mountain 2024-06-30 The iShares Biotechnology ETF has risen more than twice as much as the S & P 500 this quarter. The iShares Biotech ETF is up 7.7% this quarter while the Nasdaq Biotech Index has advanced 7.4%, more than double the 3.2% gain in the S & P 500 since June 30. Year-to-date, Regeneron is up 30.6% and Vertex by 18.3%, both outperforming the 18.1% rise in the S & P 500.

Persons: Goldman Sachs, John Flood, Goldman, Flood, Regeneron Organizations: Biotechnology, Federal Reserve, Gilead Sciences, Nasdaq Biotechnology, IQVIA Holdings, Regeneron Pharmaceuticals, Amgen, Vertex Pharmaceuticals, iShares Biotech, Nasdaq Biotech Locations: Gilead

☆ Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years
▼ + stars: | 2024-09-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The matrix of individual officials' expectations pointed to another full percentage point in cuts by the end of 2025 and a half-point in 2026. In all, the dot plot shows the benchmark rate coming down about 2 percentage points beyond Wednesday's move. On core inflation, the committee took down its projection to 2.6%, a 0.2 percentage point reduction from June. In fact, the last time the monthly hiring rate was this low – 3.5% as a share of the labor force – the unemployment rate was above 6%. At his press conference following the July meeting, Powell remarked that a 50 basis point cut was "not something we're thinking about right now."

Persons: Michelle Bowman, Jerome Powell, Powell Organizations: WASHINGTON, Federal Reserve, Market, Dow Jones, Fed, Gross, Atlanta Fed

☆ How Fed rate cuts affect the global economy
▼ + stars: | 2024-09-18 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +4 min

The Federal Reserve's interest rate decisions can influence the trajectory of the U.S. economy. Changes to the Fed's interest rate can influence the cost of loan products such as mortgages and the value of cash, bonds and stocks. The Federal Reserve's decision to cut interest rate comes after months of shaky labor market data in the U.S. Fed decisions can also impact foreign exchange markets given their effect on the value of U.S. dollars, the global reserve currency. Economists at the Fed write that China's central bank has managed the value of the yuan to help the country achieve its goals on trade.

Persons: Gregory Daco, Federal Reserve Board they're, Reena Aggarwal, they've, Freya Beamish, Beamish Organizations: Federal, Market Committee, International Monetary Fund, U.S, European Central Bank, IMF, Federal Reserve Board, Georgetown, Psaros, CNBC, People's Bank of, Federal Reserve, TS Lombard Locations: U.S, EY, United States, People's Bank of China, China

☆ Stock market today: Indexes edge up ahead of major Fed interest rate decision
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

US indexes edged higher as investors waited for a likely interest rate cut from the Fed. AdvertisementUS stocks rose on Wednesday as traders readied for what's likely to be the Federal Reserves's first rate cut in four years. "Though consensus is leaning toward a 50 basis point move, we look for the Fed to cut by 25 basis points today. AdvertisementFollowing the interest rate decision, all eyes will be on Fed Chair Jerome Powell, who will deliver prepared remarks during a press conference. "While the market has usually bounced immediately following the 2 PM rate decision, the sell-off usually starts at or near the end of Powell's post-FOMC press conference."

Persons: Jerome Powell's, —, John Lynch, José Torres, Jerome Powell, Powell, shouldn't Organizations: Fed, Traders, Service, Federal, Comerica Wealth Management, Interactive, Deutsche Bank, Investment

Mortgage rates have dropped substantially in recent weeks, with 30-year rates now almost 40 basis points down from where they started the month. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have gone down this week and are now hovering below 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.

Persons: it's, refinance, you'll, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron

☆ Fed rate cuts are arriving too late and layoffs show the US economy is already in a recession, bond king Jeff Gundlach says
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The Fed should have cut interest rates a lot sooner, according to Jeff Gundlach. The "Bond King" thinks the economy is already in recession, as evidenced by rising layoffs. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Fed is cutting interest rates too late, as mounting job losses show that the US economy is already in a recession, according to Jeff Gundlach.

Persons: Jeff Gundlach, — Organizations: Challenger, Service, Business

☆ An aggressive Fed move is unlikely to spur a surprise Bank of England rate cut
▼ + stars: | 2024-09-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Commuters outside the Bank of England (BOE) in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. Either way, this would be Fed's first rate cut in the current cycle. Meanwhile, money market pricing for a BOE cut at Thursday's September meeting dipped from 35% late Tuesday to 26% Wednesday morning, still slightly higher than it was last week. The move came after U.K. inflation came in at 2.2% for August, steady on July and in-line with expectations — thus backing the need for a little more caution in Threadneedle Street.

Persons: BOE, —, Sanjay Raja, Raja, George Lazarias, Mazars, they're, Lazarias Organizations: Bank of England, City of, Bloomberg, Getty, Federal Reserve, CNBC, Deutsche Bank, Monetary, MPC Locations: City, City of London, China

☆ Cramer explains what the Fed's rate cuts mean for tech stocks
▼ + stars: | 2024-09-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday discussed the repercussions of the Federal Reserve's interest rate cuts on the technology sector, saying he thinks they hinder tech stocks because the companies don't necessarily stand to benefit from lower rates. "With a double-sized rate cut that everybody already expected, you aren't gonna see a huge run in tech. Unlike companies in the retail or housing sector, large tech companies are largely divorced from the consumer and the labor market, and cater to the enterprise, he added. Consumer-oriented companies may be the ones to own during this cutting cycle, Cramer suggested, even though tech stocks can still be winners with rates coming down. "On days like today, we want the companies that desperately needed a rate cut, because they just got what they wished for," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wall Organizations: Fed, Big Tech, Consumer Locations: San Francisco

☆ Tupperware files for bankruptcy, citing ‘challenging’ economic environment
▼ + stars: | 2024-09-18 | by ( Ramishah Maruf | Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

New York/London CNN —Tupperware Brands Corporation, whose food containers have been a mainstay in American kitchens, has filed for bankruptcy. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, Tupperware president and CEO, said in a statement late Tuesday. Tupperware has historically only sold to consumers through so-called direct sales, most commonly at “Tupperware parties,” similar to cosmetic company Avon’s business model, and only began selling in Target in 2022. Many businesses file for bankruptcy protection to wind down some operations, shed debt and cut costs. A common route, also chosen by Tupperware, is Chapter 11 bankruptcy, which allows the company to solve its financial problems by restructuring.

Persons: ” Laurie Ann Goldman, ” Tupperware, Tupperware Organizations: London CNN — Tupperware Brands Corporation, “, Tupperware, Target Locations: New York, London, South Carolina

☆ Gold flat as investors focus on Fed
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Matt Simpson, let's Organizations: Federal Reserve, Index Locations: ., Lebanon

☆ Oil prices steady, with investors focusing on Fed decision
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied on Wednesday, after rising in the previous two sessions, as investors await the U.S. Federal Reserve's anticipated interest rate cut, with the potential for more violence in the Middle East supporting the market. "Markets have calmed down as concerns over hurricane damage and escalating tensions in the Middle East have been factored in," said Mitsuru Muraishi, an analyst at Fujitomi Securities. "Now, investors are focusing on the Fed's rate cuts which could revitalize U.S. fuel demand and weaken the dollar," he said, predicting that oil prices are likely to maintain a bullish tone after Brent hit its lowest since 2021 last week. Traders kept bets the Fed will start an expected series of interest rate cuts with a half-percentage-point move downward on Wednesday, an expectation that may itself put pressure on central bankers to deliver just that. Oil stockpiles rose by 1.96 million barrels in the week ended Sept. 13, according to market sources citing the API figures, but gasoline and distillate stocks both rose by about 2.3 million barrels.

Persons: Hurricane Francine, Mitsuru Muraishi, Brent, Biden Organizations: U.S, U.S . Federal, Brent, Fujitomi Securities, Traders, Strategic Petroleum Reserve, American Petroleum Institute, Reuters, U.S . Energy Locations: U.S ., U.S, Israel, Lebanon, Beirut

☆ The Fed’s long-awaited rate cut is colliding with presidential politics
▼ + stars: | 2024-09-18 | by ( Kayla Tausche | ) edition.cnn.com time to read: +7 min

Vice President Kamala Harris called the rate cut “welcome news,” while former President Donald Trump suggested, without evidence, that the decision could be politically motivated. With less than 50 days until Election Day, another question has emerged: Will the rate cut matter to voters? In fact, they already have – mortgages are based on bond yields, which have fallen in recent weeks in anticipation of a rate cut. Harris responded to the rate cut by saying she’s focused on bringing down prices. This story has been updated with reaction to the Fed’s rate cut announcement.

Persons: Biden, Joe Biden, Ukraine —, ’, —, “, ” Biden, Kamala Harris, ”, Donald Trump, Zoila Sanchez, CNN’s John King, ” Sanchez, King, ” Homebuyers, Powell, Jason Furman, Barack Obama’s, “ It’s, ” Furman, George H, Bush, Bill Clinton’s “, –, Clinton, Aaron Klein, ” Klein, Harris, she’s, Trump, they’re, ” Trump, Steve Moore, Powell sanctimoniously, ” Moore, ” Powell, Moore Organizations: CNN, Reserve, White House, Economic, of Washington, Financial, St, Louis Federal Reserve, Brookings Institution, “, Biden, Fed, SPAN Locations: trillions, Ukraine, Nevada, New York

☆ Former Fed Vice Chair Richard Clarida: Sticking with our call of a 25 basis point cut today
▼ + stars: | 2024-09-18 | 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 EmailFormer Fed Vice Chair Richard Clarida: Sticking with our call of a 25 basis point cut todayRichard Clarida, PIMCO global economic advisor and former Federal Research Vice Chairman, joins 'Squawk Box' to discuss the Fed's policy meeting this week, what to expect from the central bank's interest rate decision today, state of the economy, and more.

Persons: Richard Clarida Organizations: Former, Federal Research

☆ The Fed forecasts lowering rates by another half point before the year is out
▼ + stars: | 2024-09-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. The Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank has two more policy meetings to do so. Through 2025, the central bank forecasts interest rates landing at 3.4%, indicating another full percentage point in cuts. Through 2026, rates are expected to fall to 2.9% with another half-point reduction. The central bank lowered the federal funds rate to a range between 4.75%-5% on Wednesday, its first rate cut since the early days of the Covid pandemic.

Persons: Jerome Powell Organizations: Federal, Committee, Federal Reserve Locations: Washington , U.S

☆ Fed Chair Jerome Powell delivers opening remarks following decision to cut rates by 50bps
▼ + stars: | 2024-09-18 | 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 EmailFed Chair Jerome Powell delivers opening remarks following decision to cut rates by 50bpsFederal Reserve Chairman Jerome Powell delivers remarks following the Federal Reserve's two-day policy meeting on Wednesday, where central bank policymakers trimmed interest rates by 50 basis points, marking their first cut in four years.

Persons: Jerome Powell Organizations: 50bps Federal, Federal

☆ The Fed has waited four years to cut rates. But it’s still a tough call
▼ + stars: | 2024-09-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

It’s also a sign of confidence from Fed officials that inflation has come under control just enough to comfortably dial back policy. Typically, in the lead-up to a Fed policy decision, Wall Street and economists are in alignment on what to expect. But investors’ wagers for a half-point cut ramped up on Monday; and as of Tuesday afternoon, federal funds futures contracts were pricing in a 63% chance of a jumbo rate cut, up from around 30% on Thursday, according to the CME Group. As inflation skyrocketed in 2021 and 2022, American employers pumped out jobs and the unemployment rate declined to half-century lows. The Fed eventually responded to the country’s inflation problem with its bitter medicine of high interest rates.

Persons: It’s, Christopher Waller, Elizabeth Warren, Robert Kaplan, Bill Dudley, ”, Powell, ” Gregory Daco, “, ” Julia Hermann Organizations: Washington CNN, Federal Reserve, Street, CME, Fed, Democratic, Dallas Fed, CNBC, Former New York, Bloomberg, Dow, Labor, New York Life Investments, CNN

☆ Rate cuts are good for dividend stocks. Here's where we stand on our 5 biggest payers
▼ + stars: | 2024-09-18 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

We have a handful of them in the Club's portfolio, led by Best Buy . The five Club stocks with the biggest dividend yields fit the bill: Best Buy, Morgan Stanley , Coterra Energy , Stanley Black & Decker and Wells Fargo . Best Buy, Stanley Black & Decker and Wells Fargo are the best positioned of the five top-yielding Club stocks. "Morgan Stanley is now in no man's land: Too low to sell, too high to buy," Jim said. Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021.

Persons: we're, Morgan Stanley, Stanley Black, Decker, Wells, Wells Fargo, Jim Cramer, Jim, Charlie Scharf, Coterra, it's, Jim Cramer's, Joe Raedle Organizations: Best, Coterra Energy, BBY, JPMorgan, Texas, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Wells Fargo, Miami , Florida

☆ Fed Chair Powell: We don't need to see further loosening in the labor market to get inflation to 2%
▼ + stars: | 2024-09-18 | 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 EmailFed Chair Powell: We don't need to see further loosening in the labor market to get inflation to 2%Federal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell: The labor market should be watched closely
▼ + stars: | 2024-09-18 | 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 EmailFed Chair Powell: The labor market should be watched closelyFederal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

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