Sections SEARCH Skip to content Skip to site index Subscribe Log In Log In Today’s Paper DealBook | DealBook Briefing: The Fed Raised Rates. The Markets Didn’t Like It. DealBook Supported by Dec. 20, 2018 Good Thursday morning. (Was this email forwarded to you? Sign up here .) The Fed raised rates, but it’s bracing for economic strain The Federal Reserve raised its benchmark interest rate yesterday to between 2.25 percent to 2.5 percent, and signaled that it expects “some” additional rate increases next year. The Fed believes the U.S. economy is strong. “Jerome H. Powell, the Fed’s chairman, emphasized the continued strength of economic growth at a news conference after the announcement,” Binyamin Appelbaum of the NYT writes. He adds that it was “a display of measured confidence in the economy.” But the move is a slap in the face to vocal critics. … [Read more...] about DealBook Briefing: The Fed Raised Rates. The Markets Didn’t Like It.
Fed raises rates
Traders with Livermore Securities at the New York Stock Exchange follow the news Wednesday about a Federal Reserve Board interest rate increase. NEW YORK -- Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates and said it plans to keep raising them next year. The market finished at its lowest level since September 2017. The Dow Jones industrial average fell 351.98 points, or 1.5 percent, to 23,323.66. The S&P 500 skidded 39.20 points, or 1.5 percent, to 2,506.96. It has tumbled 14.5 percent in the past three months, including a loss of 9.2 percent this month. The Nasdaq composite gave up 147.08 points, or 2.2 percent, to 6,636.83. The Russell 2000 index -- which has experienced broader declines than the rest of the market -- fell 27.95 points, or 2 percent, to 1,349.23. The Dow lost 513 points at its lowest point. Before the Fed's decision was announced at 1 p.m. Central Standard Time, it was up 381 points. The … [Read more...] about Stocks take nose dive after Fed raises rates
Stocks fell Wednesday, erasing earlier gains after the Federal Reserved increased borrowing costs. The Fed signalled it expects to hike rates twice in 2019. It previously had expected three rate hikes next year. All three major US indices fell into correction territory earlier this month. Watch the major US indexes trade in real time here. Stocks wiped out gains Wednesday after the Federal Reserve increased its benchmark interest rate by a quarter percentage point, while also signalling fewer rate hikes in 2019 than previously expected. The Dow Jones Industrial Average fell more than 1%, or about 400 points, from session highs. It was down about 100 points, or 0.42%. The Nasdaq Composite tumbled 0.75%, and the S&P 500 shed 0.4%. A series of sell-offs this month have sent all three indices into correction territory, or down more than 10% from recent highs, as investors fret over rising rates and the prospect of slowing economic growth. The Fed raised its benchmark interest … [Read more...] about Stocks wipe out gains after Fed raises rates, signals fewer hikes in 2019
NEW YORK — The Latest on the Federal Reserve's monetary policy meeting (all times local): 2:23 p.m. Stocks gave up much of an early rally and were moderately higher after the Federal Reserve made its latest interest rate increase. The Dow Jones Industrial Average was up 117 points in afternoon trading Wednesday. It was up more than 300 points before the Fed's announcement. The Fed, as expected, raised its benchmark interest rate by a quarter point. Policymakers also said they expect to hike rates just twice next year, down from a previous forecast of three. Bond prices rose following the Fed's announcement, sending yields lower. Bond yields are benchmarks for long-term interest rates on loans such as mortgages. The yield on the 10-year Treasury note fell to 2.81 percent from 2.84 percent immediately before the Fed's announcement. ___ 2:05 p.m. Federal Reserve policymakers expect to hike rates just two times next year, down from a previous expectation of three, a sign the Fed … [Read more...] about The Latest: Market gains fade after Fed raises rates
Sections SEARCH Skip to content Skip to site index Economy Subscribe Log In Log In Today’s Paper Economy | Fed Raises Rates, Demonstrating Confidence in Health of Economy Supported by ByBinyamin Appelbaum Dec. 19, 2018 The Federal Reserve announced a widely expected quarter-point increase in its benchmark interest rate on Wednesday, and signaled that it plans to continue raising rates next year. The Fed emphasized the strength of economic growth in a statement released after a two-day meeting of its policymaking committee. It said firms keep adding jobs and consumers keep spending money. The statement made no mention of recent turbulence in financial markets. The Fed’s announcement offered a few crumbs for critics, including President Trump, who have urged the central bank to stop raising rates. In previous statements, the Fed had said it planned “further gradual increases” in its benchmark … [Read more...] about Fed Raises Rates, Demonstrating Confidence in Health of Economy