Page 5 - Fed May News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Gold has continued to weaken after reversing on Friday as the greenback found support on the back of comments from the Fed’s Christopher Waller. In addition to a stronger dollar, gold has also been held back by a sell-off in government bonds, causing bond yields to rise, which, in turn, has undermined zero-yielding assets like gold and bitcoin. While the metal may well extend its drop in the short-term, my longer-term gold outlook remains positive. I therefore envisage a rise to a new record high soon.

Future today are opening up in positive territory. all eyes on, as you know, midterm this week as well as that u.s. cpi inflation print coming on thursday. should give further clues to how the fed may move on interest rates. >> the next sentence will be my biggest understatement of the morning. it seems like there is a lot going on after elon musk took over twitter. what is going on? >> yes. well, a lot has happened this weekend. let's start off with the employee layoffs. it is reported that up to half of the 8,000 employee workforce will have already lost their jobs or going to lose their job...

Quarters of a percentage point later today. joining us now, co-anchor of cnbc's squawkbox, andrew ross sorkin. andrew, let's start with interest rates. ouch! what's going to happen? >> so, at 2:00 p.m., watch your screens, at 2:00 p.m., we're going to hear from fed chair jay powell. as you said, 75 basis points is the expectation, but focus less on the number and it could come out even hotter. maybe he goes to a full hundred points. that would actually, i think, make people a little bit more nervous, frankly, about what the fed may or may not do. but it's really going to be his commentary on w...

Are coming down because people think people will travel less and everything will happen less. that is why it's happening. at least thus far. as to your secondary point, you know, why are you going to see a recession. because the fed may put us into a recession and that is why i think we have so see how strong the numbers are. we've never had a situation where we've had 3.6% unemployment which suggests a strong economy and what it could take for the fed effectively to put us in recession. it might be harder to put us in recession. it would be the good news if you could believe that. >> glad you...

2019. you know, airlines are under a lot of pressure, not only from passengers, but also from the federal government. transportation secretary pete buttigieg says they must get their act together, victor and alisyn. >> pete muntean, thank you, pete. so rent, food, gas, all the prices went up in june pushing inflation to a 40-year high. details on how the fed may respond next. (grandmother) thank you for taking me home. it's so far. (young woman) don't worry about it, grandma! this'll be fun. (young woman) two chocolate milkshakes, please. (grandmother) make it three. (grandmother)oman) did y...