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☆ Behind Balyasny's training program that gives analysts a crash course in data science and AI
▼ + stars: | 2024-06-23 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

"Five, 10 years from now, it's going to be table stakes to know Python, to know a lot of these AI tools that are being generated today. And that's exactly what the 6-month program, called Bridger, strives to do. It gives sell-side analysts from research firms, investment banks, and consultancies the chance to build up their technical chops. The program also creates a pipeline of analysts at a time when investing talent among hedge funds is competitive and expensive. While learning to code was always part of the curriculum, this year it added AI skills to the program.

Persons: it'll, Will Scott, Scott, Bridger, Balyasny, Bridger alums, Stephen McGee, McGee, wasn't, Nicole Goldin's, Goldin Organizations: Service, Balyasny, Management, BAM, Bridger, JPMorgan, Columbia University Locations: Bridger

☆ Consumer spending, inflation, and housing are 3 things to watch in the market next week
▼ + stars: | 2024-06-22 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.

Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan

According to data from Zillow, 30-year mortgage rates are currently 6.55%, and 15-year mortgage rates are currently 5.96%. Mortgage rates could decrease more dramatically if the Fed decides to cut rates. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they've, you'll, Fannie Mae Organizations: Zillow, Mortgage, Association, Sky Locations: Zillow, Chevron

☆ More single-family built-for-rent homes are under construction in the U.S.
▼ + stars: | 2024-06-21 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Leopatrizi | E+ | Getty ImagesMore built-for-rent single-family homes are being constructed in the U.S., according to the National Association of Home Builders, and experts say this is in part due to the housing affordability crisis. Construction began on about 18,000 single-family, built-for-rent homes in the first quarter of 2024, a 20% jump compared with the first quarter of 2023, according to NAHB, which analyzed data from the U.S. Census Bureau's Quarterly Starts and Completions by Purpose and Design. Single-family built-for-rent starts grew to 90,000 units in 2023, up from 81,000 units in 2022, the National Association of Realtors reported. The growing share of built-for-rent single-family homes is a response to demand from "people who can't afford today's very expensive, out-of-reach housing market," Lautz said. Homeowners are also responsible for shouldering "hidden costs" that aren't figured into a mortgage payment, such as maintenance, repairs, taxes and insurance.

Persons: Robert Dietz, Molly Boesel, Jessica Lautz, Lautz, NAHB's Dietz, Boesel Organizations: National Association of Home Builders, Census, Finance, JPMorgan, Trump, National Association of Realtors, Survey, U.S . Census, NAR, Mortgage, Association Locations: U.S

☆ The creator of a famed recession indicator says the Fed is 'playing with fire' by not cutting rates now
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Read previewThe Federal Reserve's reluctance to lower interest rates in the near term is a risky gamble that could drive the US towards a recession, Claudia Sahm told CNBC. "But it's a real risk, and I do not understand why the Fed is pushing that risk. At current readings, that likely means just one rate cut in 2024, the Fed said. For this reason, Sahm told CNBC that the Fed should start a gradual cutting cycle now, and take the economy off a path that could require more severe action if not addressed. Markets, meanwhile, remain convinced that the Fed will follow with more than just one cut.

Persons: —, Claudia Sahm, I'm, Sahm, Mohamed El Organizations: Service, CNBC, Business

☆ Mortgage demand flattens even as interest rates hit the lowest level since March
▼ + stars: | 2024-06-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Consumers seemed unimpressed by the latest drop in mortgage rates. Total mortgage application volume rose just 0.9% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Mortgage rates dropped last week following the latest inflation data and the FOMC meeting," said Mike Fratantoni, MBA's SVP and chief economist. Mortgage applications to purchase a home rose 2% for the week and were 12% lower than the same week one year ago. Mortgage rates moved a little bit higher to start this week but then pulled back Tuesday after weaker than expected retail sales data.

Persons: Mike Fratantoni, Matthew Graham Organizations: Mortgage, MBA's, Mortgage News

☆ A stock market correction is coming as rates, inflation, and valuations darken the outlook for investors, strategist says
▼ + stars: | 2024-06-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

AdvertisementThe stock market is in for a correction, as a trio of unfavorable factors will weigh on equity prices, according to Sam Stovall, chief investment strategist of CFRA Research. Tech stocks, which have dominated the market in recent years, are trading at a 68% premium. Stocks could see their first "crack in the ice" in the tech sector, he added, pointing to lofty valuations among mega-cap tech stocks. AdvertisementOther forecasters have warned of limited upside to the market as stocks — particularly tech stocks — continue to climb higher. According to one valuation metric, the stock market looks to be the most overvalued since 1929, which could pave the way to a steep correction, elite investor John Hussman warned.

Persons: Sam Stovall, —, Stovall, Stocks, John Hussman Organizations: Service, CFRA Research, Wall, Treasury, Tech, CNBC

☆ India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

More than $200 billion in assets track the JPMorgan Emerging Market Index in which India will eventually have a weight of 10% by March 2025, suggesting total passive inflows of at least $20 billion over the 10-month period. Since there is no precedent for these debt index-related inflows, bankers' estimates of the timing of flows are based on similar index adjustments in the equity markets. "Obviously, all this is a first and you can't be sure how things will be," the head of trading at a large foreign bank cautioned. In anticipation, large foreign banks could look at building short dollar/rupee positions to help manage inflows when they happen, an FX trader at a foreign bank said. As a senior banker at a large foreign bank said: "all the pipes that have been put in place might not work."

Organizations: JPMorgan, Reserve Bank of India, FX Locations: India

☆ Mortgage rates have dipped below 7% — providing home buyers some much-needed relief
▼ + stars: | 2024-06-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +1 min

The 30-year fixed mortgage rate fell to 6.94% last week, the first drop below 7% since March. Mortgage applications rose this week to their highest level since March, showing increased demand. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The 30-year fixed mortgage rate fell from 7.02% to 6.94% in the week ending June 14, according to a Bloomberg report that cited Mortgage Bankers Association data released on June 19. This was the first time the 30-year fixed mortgage had fallen below 7% since March.

Persons: — Organizations: Service, Bloomberg, Association

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

This is good news for mortgage rates, but we'll need to see more data showing that inflation is sustainably coming down before rates can fall further. As inflation slows and the Fed is able to start lowering the federal funds rate, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: of Labor Statistics, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ Andy Sieg Could Be Citi's Next CEO If He Can Fix a Broken Wealth Business
▼ + stars: | 2024-06-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.

Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America

☆ The job market has 3 weak spots that could bring steeper Fed rate cuts, Goldman Sachs says
▼ + stars: | 2024-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Comparing today's job market to previous years when the Fed cut rates also shows some cause for concern. AdvertisementIf the job market continues to weaken, that makes a greater case for the Fed to cut rates, the bank said. Related storiesHere are three areas of labor market weakness that could mean more downside for interest rates:1. Employment is also falling among workers aged 16-24, the "most volatile" cohort of the job market, strategists added. Just 10%-15% of new labor market entrants are finding a job, according to Goldman's analysis of labor market data.

Persons: —, Goldman Sachs Organizations: Service, Federal Reserve, Business, Labor, Fed, Department of Labor, Goldman Sachs Global Investment Research, of Labor Statistics, Goldman, Industries, Labor Department Locations: ManpowerGroup

☆ Dollar firm as euro wallows; yuan brushes aside China data
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +4 min

The dollar was firm on Monday as the euro hovered near a more than one-month low amid continued concerns about the political outlook in Europe. The yuan held close to a multi-month low after China released a slew of economic data that pointed to an uneven recovery in the world's second-largest economy. A Reuters poll published last week showed 63 of 65 economists thought a first cut would not come until Aug. 1. Elsewhere, the yuan was mostly flat at 7.2550 per dollar after domestic data showed a mixed economic picture in China. China's central bank left a key policy rate unchanged as expected on Monday as the weak yuan continued to hamper policy easing.

Persons: Emmanuel Macron's, Matt Simpson, Neel Kashkari, Index's Simpson, Sterling, Kazuo Ueda, bitcoin Organizations: U.S, Gazprom, European Central Bank, Reuters, Index, . Minneapolis Federal, Bank of England, Bank of Japan Locations: Poland, Bulgaria, Europe, China, U.S

☆ Fed's Kashkari says it's 'reasonable' to predict a December rate cut
▼ + stars: | 2024-06-16 | by ( ) www.cnbc.com time to read: +2 min

Minneapolis Federal Reserve President Neel Kashkari on Sunday said it's a "reasonable prediction" that the U.S. central bank will cut interest rates once this year, waiting until December to do it. It also published projections that showed the median forecast from all 19 U.S. central bankers was for a single interest rate cut this year. Kashkari, who has been more cautious about the possibility of easing monetary policy than many of his colleagues, did not say how many rate cuts he personally expects. Inflation by the Fed's targeted measure, the year-over-year change in the personal consumption expenditures price index, registered 2.7% in April. "If we simply cut interest rates to try to support home ownership right now, that would probably push up the price of houses, and it actually wouldn't lead to any better affordability," he said.

Persons: Neel Kashkari, it's, Kashkari Organizations: Reserve Bank of Minneapolis, Kansas City Fed, Minneapolis Federal, CBS, Fed Locations: Jackson, Wyoming, Minneapolis, U.S

☆ $29 Trillion: That’s How Much Debt Emerging Nations Are Facing
▼ + stars: | 2024-06-14 | by ( Patricia Cohen | ) www.nytimes.com time to read: +1 min

The Vatican’s meeting on the global debt crisis last week was not quite as celebrity-studded as the one that Pope John Paul II presided over 25 years ago, when he donned sunglasses given to him by Bono, U2’s lead singer. Emerging nations are contending with a staggering $29 trillion in public debt. Fifteen countries are spending more on interest payments than they do on education, according to a new report from the United Nations Conference on Trade and Development; 46 spend more on debt payments than they do on health care. Unmanageable debts have been a recurring feature of the modern global economy, but the current wave may well be the worst so far. Overall, government debt worldwide is four times higher than what it was in 2000.

Persons: Pope John Paul II, Bono, Francis, — Organizations: United Nations Conference, Trade

☆ Why the Fed's rate-cutting agenda could spark a recession, according to top economist Mohamed El Erian
▼ + stars: | 2024-06-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Read previewThe Federal Reserve's path of rate cuts could be what ends up causing a US recession, according to top economist Mohamed El-Erian. Elevated interest rates could cut into economic activity and employment, Powell said at a press conference on Wednesday. At this point, the economy faces a bigger risk of recession than rampant inflation, El-Erian suggested. The recession outlook remains mixed, given the cocktail of tight financial conditions and resilient economic growth so far. According to New York Fed economists, the US has a 52% chance of slipping into recession by May next year.

Persons: —, Mohamed El, Erian, Powell Organizations: Service, Business, Fed, Yahoo Finance, San Francisco Fed, New York Fed, Consumer Locations: El

☆ Wells Fargo fired a dozen people accused of faking keyboard strokes
▼ + stars: | 2024-06-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. “And that’s a symptom of a much larger problem.”In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.

Persons: CNN Business ’, Wells, ”, —, “, haven’t, ” Ashley Herd, Banks, ” Herd Organizations: CNN Business, New York CNN, ” Bloomberg, Financial Industry, Authority, Wells Fargo Locations: New York, Wells

☆ Here are 9 stocks that can benefit from Fed interest rate cuts
▼ + stars: | 2024-06-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Housing We see Stanley Black & Decker as a major beneficiary of Fed rate cuts due to its link to the housing market. On the one hand, lower rates mean a bank like Wells Fargo makes less money on the money it lends. Biotech Danaher should also see some benefit as lower rates lead to improved funding dynamics for biotech companies. Like in housing, monthly payments become far more manageable at lower rates, and therefore affordability and demand, stand to increase. Salesforce , which has also highlighted more measured deal activity, might not benefit as much from lower rates.

Persons: Jerome Powell, Stanley Black, Decker, Stanley, That's, Wells, Morgan Stanley, SVB, Ford, We're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nasdaq, CNBC, Fed, Biotech, Silicon Valley Bank, Ford, Palo, Networks, Microsoft, Jim Cramer's Charitable, Bloomberg, Getty Locations: Wells, Wells Fargo, Silicon Valley, Colma , California

☆ A brief drop in mortgage rates caused a huge surge in demand, but it may be short-lived
▼ + stars: | 2024-06-12 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates dropped for much of last week, causing total mortgage application volume to surge nearly 16% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. But rates jumped back up again after a stronger-than-expected monthly employment report Friday. For the bulk of the week, rates were lower than that, but Friday's news caused rates to jump 12 basis points, according to a separate survey from Mortgage News Daily. Homebuyers are not only contending with high interest rates but also high home prices. A monthly survey from Fannie Mae found 86% of consumers say now is a bad time to buy a home.

Persons: Mike Fratantoni, Fannie Mae, Fratantoni, Matthew Graham of Organizations: Mortgage, Mortgage News, Federal Reserve, Matthew Graham of Mortgage News

☆ With signs of an M&A comeback, Goldman Sachs' bankers are raring to win. Do they still have what it takes following a raft of partner exits?
▼ + stars: | 2024-06-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +13 min

AdvertisementDavid Solomon Goldman SachsPressure-cooker cultureWith signs suggesting mergers and acquisitions could soon return — including the megadeals Goldman specializes in — the firm's dealmakers are itching to end 2024 on a high note. In M&A, Goldman has fallen to No. AdvertisementMark Sorrell Goldman SachsGoldman is also seeking to become more interconnected across its business lines via the One Goldman Sachs program. "They figure that if they're talking to one person at Goldman Sachs, they're talking to everybody." The result, bankers said, is an M&A machine built to withstand threats like star dealmakers leaving for more-nimble rivals.

Persons: —, Goldman Sachs, Bill Quinn, Goldman, Jacki Zehner, Rishi Bali, Hank Paulson, John Thornton, John Thain, David Solomon, Solomon, Dan Dees, What's, David Solomon Goldman Sachs, Gene Sykes, Alison, It's, LSEG, dealmaking, Goldman dealmakers, Momo Takahashi, We've, Mark Sorrell, Mark Sorrell Goldman Sachs Goldman, Sykes, they're, Sorrell, Dees, it's, Dan Dees Goldman Sachs, we're, John Waldron, Kim Posnett, that's, Timothy Ingrassia, Ingrassia, Stephan Feldgoise, I'm, Reed Alexander Organizations: Service, Business, Goldman, JPMorgan, playbook Bank, Wall Street, Competition, & $ Locations: Silicon Valley, London, New York City, Latin America

☆ CPI report: Inflation slowed in May, hinting at welcome relief for consumers
▼ + stars: | 2024-06-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Falling gas prices kept inflation in check following a 0.3% gain in April. “Adding to the good inflation news, core services inflation (excludes energy services) printed its mildest monthly increase since September 2021,” Kathy Bostjancic, Nationwide’s chief economist, wrote in a note issued Wednesday. On an annual basis, shelter inflation slowed a tenth of a percentage point to 5.4%, which is its lowest rate since April 2022. Still, those costs continue to run hot for consumers, with transportation services prices up 10.5% from a year ago and car insurance up 20.3%. Soft CPI boosts chances for Fed cutsThe CPI, which tracks average change in prices for a basket of goods and services common to consumers, is the most widely cited inflation metric.

Persons: ” Philip T, Powell, They’re, ” Kathy Bostjancic, Indiana University’s Powell, it’s, ” Sean Snaith, ” Preston Caldwell, Tool, “, ” Scott Anderson Organizations: CNN, Inflation, Federal, Bureau of Labor Statistics ’, Indiana Business Research Center, Indiana University Kelley School of Business, Federal Reserve, CPI, Transportation, University of Central, Soft, Fed, Morningstar, BMO Bank Locations: “, Indiana, University of Central Florida

☆ What the Fed’s interest rate decision means for your savings
▼ + stars: | 2024-06-12 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Online high-yield savings accountsThe best bang for your savings can still be had in online high-yield savings accounts at FDIC-insured banks, which yield way more than today’s 0.58% overall average savings rate. As of June 11, the average online savings account rate was 4.40%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsMoney market deposit accounts and money market mutual funds are generating yields competitive with the best high-yield savings accounts.

Persons: ’, ”, Greg McBride, ” McBride, you’ll, —, McBride, “, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States

☆ How to Read the Fed’s Projections Like a Pro
▼ + stars: | 2024-06-12 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials are scheduled to release both an interest-rate decision and a fresh set of economic projections on Wednesday, and Wall Street has been eagerly awaiting those revised estimates for clues on when interest rate cuts may begin. Officials are expected to leave rates unchanged in a range of 5.25 to 5.5 percent, where they have been since July 2023. The question now is when officials may begin to cut rates — and how much borrowing costs will actually move down. Investors will carefully parse the Fed’s fresh forecasts for hints. The dot plot, decodedWhen the central bank releases its Summary of Economic Projections each quarter, Fed watchers focus obsessively on one part in particular: the so-called dot plot.

Organizations: Federal Locations: Central

☆ What to Watch as the Fed Meets
▼ + stars: | 2024-06-12 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Central bankers have held rates at 5.3 percent since July after a rapid series of increases starting in early 2022. Policymakers came into 2024 expecting to lower rates several times, but inflation has proved surprisingly stubborn, delaying those reductions. At the conclusion of their two-day meeting on Wednesday, Fed officials will release economic projections for the first time since March, updating how many rate cuts they expect this year. Regardless, central bankers are likely to remain coy about an important question: Just when will they begin lowering borrowing costs? Given that, officials are likely to try to keep their options open.

Organizations: Federal, coy

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