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US Fed Meeting LIVE: US Fed Expected To Make First Rate Cut Since 2020 | Jerome Powell LIVE | CNBC TV18
WASHINGTON DC - Fed Chair Jerome Powell holds news conference after releases U.S. Fed policy decision.
The Federal Reserve surprised Wall Street with a half-point rate cut on Wednesday bringing its target range to 4.75% to 5%. The decision was not unanimous as Fed Governor Michelle Bowman called for a quarter-point cut instead
US Federal Reserve meeting outcome LIVE Updates: The world's largest economy is expected to see the first rate cut in four and a half years amidst fears of an oncoming recession. Stay tuned for live updates and analysis as the major economic event unfolds on September 18.
US Federal Reserve meeting outcome LIVE Updates: Contrary to fears of a likely recession in the US the latest retail sales data showed strong consumer spending ahead of the Federal Reserve's policy meeting which ends today (September 18). Interestingly the 2007 rate cutting cycle too began on the same day three months before the Great Recession.
US retail sales rose by 0.1% in August defying economists' expectations of a 0.2% decline. Excluding auto sales retail sales rose 0.1% slightly short of the 0.2% growth forecast.
Global markets await the first rate cut by the US Federal Reserve since March 2020 as inflation has moved closer to its target of 2%. A cut in benchmark interest rates will bring down the cost of borrowing for companies in the US and send a signal to many central banks scheduled to review their own monetary policy this week.
The big question right now is: will the Fed chair Jerome Powell cut the Fed funds rate by 25 basis points or 50? 100 basis points make a percent.