Investors are grappling with a painful reality check: The Federal Reserve is unlikely to slash interest rates anytime soon.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. That, at least temporarily, stalled the gangbusters 2024 stock rally and lowered morale on Wall Street. Traders fear that elevated rates will uphold painfully high borrowing costs for consumers, squeeze corporate profit and weigh down the market.
The slowdown in both wage gain and payroll growth last month is supportive of hopes that the Fed can tamp down inflation without triggering a recession, according to some investors. “The case for rate cuts got a little stronger,” wrote David Russell, global head of market strategy at TradeStation, in a note earlier this month. “Goldilocks could be making a comeback.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal court denies Hunter Biden appeal in Delaware federal gun charges caseThe United States Court of Appeals for the Third Circuit has refused to throw out federal gun charges related to Hunter Biden's upcoming criminal trial in Delaware next month.
Read more »
Federal debt, Federal Reserve and inflation: Parsing their impacts.Understanding the linkages between them is important for sorting out where we have been, where we are, and where we are going.
Read more »
Federal officials accuse Sheetz of discrimination in federal lawsuitA convenience store chain where President Joe Biden stopped for snacks this week while campaigning in Pennsylvania has been hit with a lawsuit by federal offici
Read more »
10 Reasons Theresa Nist Should Be The Golden Bachelorette After Gerry Turner Divorce (Do You Agree?)Golden Bachelor&39;s Theresa Nist, with wedding shots of Theres and Gerry Turner behind her
Read more »
Cramer says not to second-guess Fed Chair Powell after Wednesday's remarksCNBC’s Jim Cramer told investors to take Federal Reserve Chair Jerome Powell at his word.
Read more »
Cramer says not to second-guess Fed Chief Powell after Wednesday's remarksCNBC's Jim Cramer told investors to take Federal Reserve Chief Jerome Powell at his word.
Read more »