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☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.

Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand

☆ Oil prices ease as markets refocus on demand worries
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Global benchmark Brent crude futures dipped 41 cents, or 0.5%, lower to $81.89 a barrel at 0005 GMT. U.S. West Texas Intermediate crude futures fell to $79.63 a barrel, down 43 cents, or 0.5%. Brent had gained more than 3% on Monday, while U.S. crude futures had risen more than 4%.

Persons: Brent, John Kirby, CME's Organizations: Brent, . West Texas, of, Petroleum, White House, Wednesday's, U.S Locations: China, Iran, United States

☆ JPMorgan raises 2024 recession odds to 35%
▼ + stars: | 2024-08-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. Meanwhile, JPMorgan kept its odds for a recessionary period by the second half of 2025 at 45%. But traders got better news on the labor market front on Thursday, with the volume of weekly jobless claims coming in lower than economists expected. To be sure, despite raising his odds, Kasman said investors should not assume all signs point to a recession. In fact, Kasman described his increase to near-term recession risk as modest.

Persons: Bruce Kasman, Kasman, Goldman Sachs Organizations: JPMorgan, Federal, Fed Locations: U.S

☆ S&P 500 futures are little changed as Wall Street awaits Fed decision: Live updates
▼ + stars: | 2024-07-30 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

S&P 500 futures are near flat Tuesday night as investors parsed the latest earnings reports and readied for the Federal Reserve monetary policy decision coming Wednesday afternoon. Futures tied to the broad index lost 0.1%, while Nasdaq 100 futures ticked higher by 0.2%. Fed funds futures are pricing in a strong likelihood that central bankers will keep rates steady at the 5.25% to 5.5% range, according to CME's FedWatch Tool. The S&P 500 and Nasdaq are tracking to end July down 0.4% and 3.3%, respectively. The Dow and Russell 2000 are slated to finish the month higher by more than 4% and 9%, respectively.

Persons: Dow, Russell, Jerome Powell, CME's, Powell, Bryce Doty Organizations: New York Stock Exchange, Federal Reserve, Nasdaq, Dow Jones, Microsoft, Sit Investment, Fed, Boeing, Albemarle, Qualcomm, Etsy

☆ Here's everything you need to know about the Fed decision coming Wednesday
▼ + stars: | 2024-07-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Market pricing currently indicates an absolute certainty that the Fed will approve its first reduction in more than four years — when it meets Sept. 17-18. They don't want investors to start pricing in a rate cut coming in September and there's literally nothing else that could possibly happen," he said. "Opening the door for that rate cut is probably the most appropriate thing for them at this point," Reynolds added. Expectations for easingGlenmede expects that starting in September, the Fed could cut at each of the three remaining meetings. The Fed will not provide an update on its quarterly summary of economic projections at this meeting.

Persons: Jerome Powell, Chris Kleponis, they've, Michael Reynolds, Reynolds, there's, it'll, Powell, Goldman Sachs, David Mericle, Mericle, Bill English, We've Organizations: Banking, Housing, Urban, Capitol, AFP, Getty, Glenmede, Fed Locations: Washington ,, Yale, Jackson Hole , Wyoming

☆ Fundstrat's Tom Lee makes another bold call, calling for big rally post-Fed
▼ + stars: | 2024-07-30 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Fundstrat's Tom Lee is out with his next eye-popping prediction — and it implies good news for the market in the coming days. "In short, we see a risk-on rally starting Wed that could add +100 points to the S & P 500," he told clients. Lee said investors should expect a gain of at least 6% for small caps during this run alone. "We still see this as the 'summer of small caps' so our preference is to be buying," he said. A rise of 5% would propel the S & P 500 to a new all-time intraday high, topping the record set earlier this month.

Persons: Fundstrat's Tom Lee, Lee, Russell, CME's Organizations: Federal Reserve

☆ The first Fed interest rate cut in years is on the horizon. Here's what homeowners, buyers need to know
▼ + stars: | 2024-07-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Valentinrussanov | E+ | Getty ImagesThe Federal Reserve is poised to make the first interest rate cut in years this fall, which can influence mortgage rates to go down. To that point, people in the market to buy a home have been eagerly waiting for the Fed to cut rates. The Fed is meeting this week, but experts say it seems more likely that the first rate cut will come in September. That would be the first rate cut since 2020 in the onset of the Covid-19 pandemic. While mortgage rates are fixed and mostly tied to Treasury yields and the economy, they are partly influenced by the Fed's policy.

Persons: Chen Zhao, Freddie Mac, Refinance, it's, Zhao, Selma Hepp, Hepp, Jacob Channel, there's Organizations: Fed, Treasury, Mortgage, Association, Finance Locations: Redfin

☆ Gold shines on rising Fed rate-cut outlook
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: +2 min

Spot gold rose 0.1% to $2,461.27 per ounce, as of 0218 GMT. Fed Governor Christopher Waller and New York Fed President John Williams both noted the shortening horizon toward looser monetary policy. Separately, Richmond Fed President Thomas Barkin said he is "very encouraged" on broadening declines in inflation. "Over the next 6-12 months, regardless of who wins the (U.S.) election, we see gold rising to $2700-$3000 and silver to $38," Citi Research said. Spot silver rose 0.2% to $30.35, platinum steadied at $994.81 and palladium gained 0.4% to $955.77.

Persons: Ryan McIntyre, Christopher Waller, John Williams, Thomas Barkin, CME's Organizations: Sprott Asset Management, Holdings, New York Fed, Richmond Fed, Federal, Citi Research, Investors, U.S Locations: U.S, ., China

☆ Oil prices tick up as crude, gasoline inventories ease
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged higher on Thursday as crude stocks fell after U.S. refineries ramped up processing and as gasoline inventories eased, signaling stronger demand. U.S. West Texas Intermediate (WTI) crude rose 36 cents, or 0.5%, to $82.47 a barrel. U.S. crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5, far exceeding analysts' expectations in a Reuters poll for a 1.3 million-barrel draw. Gasoline stocks fell by 2 million barrels to 229.7 million barrels, much bigger than the 600,000-barrel draw analysts expected during the U.S. Fourth of July holiday week. Lower interest rates decrease the cost of borrowing, which can boost economic activity and oil demand.

Persons: Brent, Beryl, Price, CME's, Jerome Powell Organizations: . West Texas, U.S, of, Petroleum, Federal Locations: Los Angeles , California, U.S, CME's FedWatch

☆ Gold eases from May peak on profit taking
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: +2 min

A view of ingots of 99.99 percent pure gold, which are placed in a workroom, at Novosibirsk Refining Plant, Russia's leading gold refining and bar manufacturing plant, in Novosibirsk, Russia on Sept. 15, 2023. Spot gold fell 0.4% at $2,382.17 per ounce as of 0346 GMT, after rising to its highest level since May 22 on Friday. Traders are also pricing in a rising chance of a second rate cut in December. Elsewhere, top consumer China's central bank refrained from gold purchases to its reserves for a second consecutive month in June. "China may have paused their gold purchases, but it remains in demand overall.

Persons: We're, Kyle Rodda, CME's, Jerome Powell's, Powell, Matt Simpson, bullish, Simpson Organizations: Novosibirsk Refining Plant, Capital.com, Federal, Fed Locations: Novosibirsk, Russia, China

☆ Treasury yields are flat as investors gear up for inflation data
▼ + stars: | 2024-06-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%The 10-year Treasury yield was flat 4.257% on Monday. The 2-year Treasury yield was fractionally higher at 4.736%. Treasurys were muted entering the final week of June, with investors set to zero in on Friday's key inflation report. With a summer interest rate cut from the Federal Reserve seemingly off the table, markets are hunting for more signs that September may be the month. That may come in the form of Friday's personal consumption expenditures price index, the Fed's preferred inflation gauge.

Persons: Michelle Bowman, Lisa Cook Organizations: Federal Reserve, Reuters, Traders Locations: U.S

☆ Oil prices edge up on optimistic demand outlook
▼ + stars: | 2024-06-12 | by ( ) www.cnbc.com time to read: +2 min

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC. Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC. U.S. crude oil stocks fell by 2.428 million barrels in the week ended June 7, according to market sources citing American Petroleum Institute figures. Inventories were expected to have fallen by slightly over one million barrels last week, a preliminary Reuters poll showed. Data from the EIA, the U.S. government's statistics arm, is expected later on Wednesday.

Organizations: U.S . Energy Information Administration, OPEC, Brent, U.S, West Texas, EIA, of, Petroleum, ANZ, American Petroleum Institute, Investors, Consumer, Federal Locations: China, U.S, Friday's

☆ CNBC Daily Open: Apple shares pop, Musk drops OpenAI lawsuit
▼ + stars: | 2024-06-12 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Musk drops OpenAI suit Elon Musk dropped his lawsuit against OpenAI, CEO Sam Altman and President Greg Brockman, which alleged breach of contract and fiduciary duty. Apple pops Apple 's shares rose to a record high a day after it announced its push into artificial intelligence. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. For more, CNBC's Jeff Cox explains there could be a huge impact from the consumer price index and the Fed meeting.

Persons: Paul Jacobson, Elon Musk, Sam Altman, Greg Brockman, Siri, OpenAI, Morgan Stanley, Goldman Sachs, David Malpass, Dennis Lockhart, Jeff Cox, — CNBC's Lim Hui Jie, Lisa Kailai Han, Alex Harring, Spencer Kimball, Hayden Field, Samantha Subin, Ashley Capoot, Michael Wayland Organizations: New York Stock Exchange, CNBC, General Motors, GM, OpenAI, Microsoft, Apple, Apple Intelligence, Federal Reserve, Brent, Bank, Biden, Strategic Petroleum Reserve, Atlanta Fed Locations: New York City, U.S, San Francisco

☆ Stock futures are little changed as investors gear up for start of Fed policy meeting: Live updates
▼ + stars: | 2024-06-10 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are near flat Monday night as investors await the start of June's Federal Reserve policy meeting. S&P 500 futures and Nasdaq 100 futures both also traded near their flatlines. This comes as traders prepare for the two-day Fed policy meeting commencing Tuesday. The meeting will conclude on Wednesday with an interest rate policy decision and a subsequent press conference featuring Federal Reserve Chair Jerome Powell. Fed funds futures were indicating virtually no chance of a cut at this week's meeting, according to CME's FedWatch Tool.

Persons: Jerome Powell, CME's, We've, Zachary Hill Organizations: June's Federal, Dow Jones Industrial, Nasdaq, Dow, Horizon Investments, Oracle

☆ Fed rate cut guessing game dominates ahead of 5 major events for investors
▼ + stars: | 2024-06-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Market wrap : Stocks were mixed and drifting in Friday afternoon trading. Wall Street's earlier gains Friday came despite a surge in bond yields and another pushout of Federal Reserve interest rate cut odds. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, Friday's, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Abbott Laboratories, Nvidia, Apple, Developers, FDA, Broadcom, Jim Cramer's Charitable Locations: Wells

☆ It's time to take your cash out of CDs and money market funds as the Fed gets ready to cut rates, says a chief strategist at a $1.4 trillion firm. Here are 3 ways to earn attractive returns for years
▼ + stars: | 2024-06-05 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

The last year and a half has been the best period in more than 20 years to be sitting in cash. Related stories"We know those attractive cash rates aren't going to last forever. Just as the aggressive rate hiking cycle took Treasury yields higher, interest rate cuts will eventually take all cash rates lower as well," Gillum said. And third, investors can build a bond ladder, meaning they stagger their money in different bond durations. "Bonds offer an optionality that you don't get from cash.

Persons: Lawrence Gillum, Gillum, there's Organizations: Service, Federal Reserve, LPL, Business, Bloomberg, Aggregate Bond, BNY Mellon, Schwab U.S, Fed

☆ Snap up gold ETF ahead of potential interest rate cuts as deficits persist, market pro says
▼ + stars: | 2024-06-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

It's likely to further appreciate due to a lack of progress in narrowing the deficit, Tentarelli said. Historically, gold prices have been inversely correlated with real bond yields, meaning when yields decline, gold should rally further. "Even if there's no rate cuts, I like gold based on the macro of deficit spending," the Merrill Lynch alum said. In that event, investors will want to hold the SPDR Gold Shares (GLD) ETF, Tentarelli said. But, for most, the "smartest way" to play gold is through the ETF, Tentarelli said.

Persons: Larry Tentarelli, Tentarelli, Merrill Lynch Organizations: Federal Reserve, Costco, Treasury, @HG, Copper Miners Locations: yawning, Freeport, McMoRan, Monday's

☆ Stock market today: US stocks look to rebound after inflation worries sparked 2-day decline
▼ + stars: | 2024-05-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Inflation worries from Fed minutes and hot economic data sparked the Dow's worst sell-off in a year on Thursday. Investors are awaiting next week's release of PCE data to gauge if inflation is falling or not. The Dow registered its worst sell-off in over a year on Thursday, even in the face of a strong rally in Nvidia stock following its blockbuster first-quarter earnings report. Inflation concerns sparked the two-day sell-off, with Fed minutes released on Wednesday highlighting lingering concerns among Fed officials about cutting interest rates too soon. Investors will be paying close attention to next week's release of PCE data to gauge if inflation is moving lower or not.

Persons: —, LPL, Quincy Krosby, Krosby Organizations: Service, Dow, Nvidia, Fed, PMI

☆ Interest-rate cuts could be coming this fall, adding another wrinkle to an election set to focus on the economy
▼ + stars: | 2024-05-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, inflation is cooling just in time for a US presidential election that will likely focus heavily on the economy . This story is available exclusively to Business Insider subscribers. The big storyThe economy and the electionAnna Moneymaker/Getty, Anna Moneymaker/Getty, Tyler Le/BISometimes, the biggest surprise is when there isn't one at all. AdvertisementOn Wednesday, Biden and Trump agreed to face off in two debates, the first coming in June . Now he has 18 direct reports, according to an internal org chart seen by Business Insider.

Persons: —, Anna Moneymaker, Tyler Le, haven't, Insider's Madison Hoff, they're, Jennifer Sor, Ed Yardeni, Jerome Powell hasn't, Powell, Donald Trump, Joe Biden, Trump, Biden, Trump's, Alyssa Powell, Keith Gill's, Jim Simons, Shaw, Goldman Sachs, David Kostin, Sameer Samat, Sundar Pichai, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Biden, White, Democratic, Renaissance Technologies, Sigma, Bloomberg, Android, Google, Microsoft, Apple, Walmart Locations: New York, London

☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ Gold slips as dollar firms, traders brood on rate cut timing
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. If the upcoming reports show scary inflation, then the Fed can't cut rates and it will pressure gold, he added. Bullion is used as a hedge against inflation, but higher rates reduce the appeal of holding the non-yielding asset. Markets are currently seeing a 65% chance of a U.S. rate cut in September, as per CME's FedWatch Tool.

Persons: Ilya Spivak, Neel Kashkari, Spivak Organizations: University of, Minneapolis Locations: U.S, China's, China

☆ Gold prices inch higher on U.S. rate-cut bets, Middle East woes
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday, steered by bets that the U.S. Federal Reserve would cut interest rates later this year and safe-haven demand for bullion as Gaza ceasefire remains uncertain. Spot gold was up 0.1% at $2,324.75 per ounce, as of 0148 GMT after rising more than 1% in the previous session. Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target. Lower rates increase the appeal of holding non-interest bearing gold.

Persons: that's, Matt Simpson, John Williams, Simpson, Israel, Heraeus Organizations: Co, U.S . Federal, Index, Fed Bank of New York, Investors, Hamas Locations: Bangkok, Thailand, Gaza, U.S, Palestinian, Rafah

☆ Gold rises on Fed rate cut hopes, Middle East tensions
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +2 min

Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East lifted bullion's appeal. "Investors will look at the political situation in the Middle East and how the ongoing negotiations for a ceasefire play out. "Weaker U.S. data offers more policy flexibility for the Fed in terms of rate cuts," paving way for gold prices to stabilize, said IG market strategist Yeap Jun Rong. Markets are pricing in a 67% chance of a U.S. rate cut in September, as per CME's FedWatch Tool. Meanwhile, the Perth Mint's gold product sales in April jumped two-fold from a month earlier, while silver sales fell to their lowest since December.

Persons: Kelvin Wong, Benjamin Netanyahu, Yeap Jun Rong, John Williams, Austan Goolsbee Organizations: Co, Federal Reserve, Asia Pacific, New York Fed Bank, Chicago Fed, Perth Locations: Bangkok, Thailand, OANDA, Gaza, U.S

☆ Gold set for second weekly fall; U.S. payrolls on investors' radar
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.

Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel

☆ Interest rates staying where they are is a forgone conclusion, but the Fed's decision day still matters
▼ + stars: | 2024-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.

Persons: —, it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London

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