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Fed could cut rates after 1 or 2 months, analyst says
  + stars: | 2024-05-22 | 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 could cut rates after 1 or 2 months, analyst saysAlexandre Tavazzi, head of the CIO office and macro research at Pictet Wealth Management, discusses the Federal Reserve's next interest rate move.
Persons: Alexandre Tavazzi Organizations: Pictet Wealth Management, Federal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Consumption remains the main engine': U.S. economy showing more resilience, analyst saysAlexandre Tavazzi, head of CIO office and macro research at Pictet Wealth Management, discusses economic data from the United States and how it might affect interest rates.
Persons: Alexandre Tavazzi Organizations: Pictet Wealth Management Locations: United States
Australia's S&P/ASX 200 index (.AXJO) rose 0.66%, while Japan's Nikkei (.N225) continued its ascent, rising to its highest since August 1990, during the country's so-called bubble era. Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.44%, German DAX futures up 0.41% and FTSE futures up 0.23%. China's blue-chip CSI300 Index (.CSI300) rose 0.20%, while the Shanghai Composite Index (.SSEC) was up 0.13%, having reversed from earlier losses. Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. Against a basket of currencies, the dollar rose 0.029% and was wedged near a two-month high.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.20% but was set to eke out a gain of 0.19% for the week. Data in the week underscored that China's economy lost momentum at the beginning of the second quarter, stoking worries over the wobbly post-COVID-19 recovery. Investor attention has been firmly on the negotiations over U.S. debt ceiling and increasing hopes that a deal could be reached sent U.S. shares higher overnight . Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. U.S. crude fell 0.14% to $71.76 per barrel and Brent was at $75.78, down 0.11% on the day.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. labor market needs to be 'much softer,' says wealth management firmAlexandre Tavazzi of Pictet Wealth Management says as long as the U.S. labor market remains as tight as it is, the U.S. Federal Reserve will continue to hike interest rates.
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