Economist Peter Schiff issued warnings about America?s economic trajectory during Wednesday?s Federal Reserve meeting, predicting the central bank?s decade-long policies will trigger an unavoidable crisis worse than 2008.
More than 200 Central banks and foreign entities have withdrawn a substantial amount of U.S. Treasuries from the New York Federal Reserve, signaling potential concerns over the stability of the U.S. dollar. What Happened: The New York Fed?s custody holdings of U.S. Treasuries and other assets have seen a significant decline.
The Federal Reserve left its benchmark rate unchanged at 4.25%-4.50% for a sixth straight meeting and Chair Jerome Powell signaled no near-term cuts despite mounting White House pressure. While traders still price in two quarter-point reductions later this year, the Fed's pause keeps borrowing costs and deposit payouts locked near current levels across the economy.
The?Las Vegas Global Economic Alliance? has announced Danielle Casey as its new President & CEO. ?We are thrilled to welcome Danielle Casey as the new CEO of LVGEA,??said Lauri Perdue,?chairwoman of?Las Vegas Global Economic Alliance.
US equities closed mixed Wednesday as the Federal Reserve kept its benchmark rate unchanged and stuck to its policy rate outlook for 2025. The Nasdaq Composite was up 0.1% at 19,546.3, while the Dow Jones Industrial Average fell 0.1% to 42,171.7. The S&P 500 was little changed at 5,980.9. Most sectors ended in the red, led by energy, while technology saw the biggest gain.
US benchmark equity indexes closed mixed on Wednesday as the Federal Reserve kept its policy rate unchanged for a fourth straight meeting, while maintaining its federal funds rate outlook for 2025 amid higher inflation expectations.
Federal Reserve Chair Jerome Powell defended the decision to keep interest rates unchanged on Wednesday, saying inflation has eased but not enough to warrant cuts, especially with trade and geopolitical risks clouding the outlook.
US benchmark equity indexes ended mixed Wednesday as the Federal Reserve kept its benchmark lending rate unchanged for a fourth straight meeting, while acknowledging that economic uncertainty has dropped. * The Federal Open Market Committee left interest rates in the range of 4.25% to 4.50%, in line with Wall Street's expectations.
US benchmark equity indexes are on track to close mixed on Wednesday after the Federal Reserve keeps interest rates unchanged and Chair Jerome Powell said. the effects of US tariffs on inflation are likely to be seen in the coming months.
JPMorgan Chase & Co (JPM) shares are trading higher Wednesday afternoon. What To Know: According to Bloomberg, the Federal Reserve, FDIC and OCC are set to lower the enhanced supplementary leverage ratio, a key capital buffer. This easing of regulations, which Bloomberg reports will be discussed at a Federal Reserve meeting on June 25, is seen as a major victory for Wall Street.
The Federal Reserve on Wednesday kept its policy rate unchanged for a fourth straight meeting, while sticking to its federal funds rate outlook for 2025 amid higher inflation expectations. The Federal Open Market Committee left interest rates in the range of 4.25% to 4.50%, in line with Wall Street's expectations. President Donald Trump has been repeatedly urging the Fed to cut rates.
There have been few signs that tariffs are pushing up inflation at this point, but the effects are likely to be seen in the coming months, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC voted to maintain the target range for the federal funds rate at 4.25% to 4.50%. "It takes some time for tariffs to work their way through the chain of distribution to...
Homebuilder ETFs posted modest gains Wednesday after a slight uptick in housing starts, but the rally may prove short-lived. During Wednesday afternoon trading, both the iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF gained over 1%. Markets are possibly applauding May?s 0.4% increase in single-family housing starts.
The Federal Reserve on Wednesday kept its benchmark lending rate unchanged for a fourth straight meeting, while acknowledging that economic uncertainty has dropped. The Federal Open Market Committee left interest rates in the range of 4.25% to 4.50%, in line with Wall Street's expectations. President Donald Trump has been repeatedly urging the Fed to cut rates.
The Federal Open Market Committee maintained the federal funds rate at the current range of 4.25% to 4.5%, the FOMC's statement Wednesday afternoon showed, expressing increased concerns about inflation and suggesting fewer rate reductions over the next few years.
The Federal Reserve held interest rates steady at 4.25%-4.50% for a fourth straight meeting on Wednesday, aligning with market expectations, while signaling slower growth and hotter inflation ahead compared to its March forecast.
Gold held steady mid-afternoon on Wednesday ahead of the afternoon end of the two-day meeting of the Federal Reserve's policy committee that is widely expected to leave interest rates unchanged. Gold for August delivery was last seen down US$1.50 to US$3,405.40 per ounce. The CME FedWatch tool sees an 99.9% probability the Federal Open Market Committee will leave rates unchanged.
US equity indexes rose ahead of monetary policy projections from the Federal Reserve and as President Donald Trump said Iran reached out for negotiations. The Nasdaq Composite rose 0.4% to 19,590.7, the S&P 500 was up 0.3% to 5,997.7, and the Dow Jones Industrial Average traded 0.3% higher at 42,322.4 after midday on Wednesday.
Housing starts fell by 9.8% to a 1.256 million annual rate in May, with single-family housing starts slightly higher and multi-family starts sharply lower. Building permits fell by 2% to a 1.393 million rate in May. Both single-family and multi-family permits were lower. Home completions rose by 5.4% in the month, which should add to the supply of homes for sale in the near term.
Broad Market Indicators. Broad-market exchange-traded funds IWM and IVV increased. US equity indexes rose, while most government bond yields fell with crude oil futures, ahead of monetary policy projections from the Federal Reserve and as Iran said Israel's attack occurred when it was negotiating a nuclear deal with the US.
US equity indexes rose, while government bond yields fell with crude oil futures, ahead of monetary policy projections from the Federal Reserve and as Iran said Israel's attack occurred when it was negotiating a nuclear deal with the US.
In a speech on Wednesday, Bank of Canada Governor Tiff Macklem said that sectors reliant on trade with the United States have seen declines in employment levels, noted Desjardins. While that has yet to spread to other sectors of the economy, the governor noted that employment in sectors not directly impacted might still respond with a lag.
National Bank of Canada maintained its outperform rating on the shares of Groupe Dynamite (GRGDF) while raising its price target to C$25.00 from C$23.00, following the clothing retailer's fiscal first-quarter results.
US housing starts fell more than projected last month, driven by a sharp slump in multi-family projects, government data showed Wednesday. Housing starts tumbled 9.8% sequentially to a seasonally adjusted annual rate of 1.26 million units in May, according to the Census Bureau and the Department of Housing and Urban Development. The April reading was adjusted higher to 1.39 million units.
Wells Fargo & Co (WFC) shares are trading higher Wednesday morning following reports that top U.S. regulators are planning to ease capital requirements for the nation?s largest banks. What To Know: Bloomberg reported that the Federal Reserve, FDIC, and OCC are considering a proposal to lower the enhanced supplementary leverage ratio.
Weekly applications for unemployment insurance in the US declined, while a four-week average of continuing claims remained at their highest level since November 2021, the Department of Labor said Wednesday. The seasonally adjusted number of initial claims decreased by 5,000 to 245,000 for the week ended June 14, government data showed, in line with a Bloomberg-compiled consensus.
Boralex (BRLXF) had its price target increased to C$43 from $42, while its Outperform rating remained unchanged, in a Wednesday note from National Bank of Canada. The higher price target comes after the company outlined its financial targets for 2030, including a 8%-10% compounded annual growth rate.
Bank of Canada Governor Tiff Macklem speaks on 'tariffs, trade, employment and inflation' and will offer a press conference on Wednesday, noted Scotiabank. The speech will be released at 11:15 a.m. ET and the press conference will be held by around 12:40 p.m. ET, said the bank.
Gold held steady early on Wednesday ahead of the afternoon end of the two-day meeting of the Federal Reserve's policy committee that is widely expected to leave interest rates unchanged. Gold for August delivery was last seen down US$1.90 to US$3,405.00 per ounce. The CME FedWatch tool sees an 99.9% probability the Federal Open Market Committee will leave rates unchanged.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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