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Federal Reserve officials paused their series of interest-rate hikes but projected borrowing costs will go higher than previously expected, owing to what Chair Jerome Powell called surprisingly persistent inflation and labor-market strength.
Federal Reserve officials paused their series of interest-rate hikes but projected borrowing costs will go higher than previously expected, owing to what Chair Jerome Powell called surprisingly persistent inflation and labor-market strength.
Policymakers led by Chair Jerome Powell voted 8-1 to lift their key rate to a target range of 0.25% to 0.5%, the first increase since 2018.
Stocks Gain, Yields Pare Rise After Fed Stands Pat: Markets Wrap Bloomberg 4 days ago Olivia Raimonde and Lu Wang (Bloomberg) -- Stocks rose to record highs and yields on longer-maturity U.S. debt retreated from more than one-year highs after the Federal Reserve continued to project near-zero interest rates at least through 2023 despite rising inflation concerns. Popular Searches The yield on the benchmark 10-year note retreated from its highs of the day as Fed Chairman Jerome Powell reiterated that the central bank wants to see inflation moderately above 2% and said the rec...
Stocks Slump Amid Inflation Concern; Oil Tumbles: Markets Wrap Bloomberg 3 days ago Claire Ballentine and Vildana Hajric (Bloomberg) -- Stocks fell from record highs, oil slumped and Treasury yields touched some of the highest levels in more than a year amid concern the Federal Reserve risks letting inflation accelerate. Popular Searches The rout in risk assets picked up in the afternoon, starting with a selloff in crude. Oil plunged 8% on concern new restrictions in Europe will hamper demand. Two weeks ago it soared past $65 a barrel to the highest in almost two years. The ...