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.
Feds raising 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
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
0 View Comments NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing lower Wednesday after the Federal Reserve signaled that faster interest rate hikes are on the way. AT&T fell 6.2 percent and Time Warner gained 1.8 after a judge cleared the way for AT&T's $85 billion takeover of Time Warner. Other media, telecommunications and healthcare companies with pending deals also benefited: Twenty-First Century Fox rose 7.7 percent and Express Scripts rose 3.3 percent. The Federal Reserve raised its key short-term interest rate and said it expects to raise rates two more times by the end of the year. The S&P 500 index slid 11 points, or 0.4 percent, to 2,775. The Dow Jones industrials fell 119 points, or 0.5 percent, to 25,201. The Nasdaq composite lost 8 points, or 0.1 percent, to 7,695. ___ 12:00 p.m. Stocks are mixed Wednesday, with investors focused on a major antitrust ruling that could pave the way for … [Read more...] about Markets Right Now: Stocks slip after Fed raises rates
WASHINGTON (Reuters) - The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank’s shift from policies used to battle the 2007-2009 financial crisis and recession. FILE PHOTO: The Federal Reserve headquarters in Washington, U.S., September 16, 2015. REUTERS/Kevin Lamarque/File Photo In raising its benchmark overnight lending rate a quarter of a percentage point to a range of between 1.75 percent and 2 percent, the Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate above-target inflation at least through 2020. The Fed has raised rates seven times since late 2015 on the back of the economy’s continuing expansion and solid job growth, rendering the language of its previous policy statements outdated. Inflation is also snapping into line, with fresh projections from policymakers on Wednesday indicating … [Read more...] about Fed raises rates amid stronger inflation, drops crisis-era guidance