42 sats \ 0 replies \ @Golu 18 Sep
I don't know how to phrase it? Is it a good news or bad news. The market will tell.
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The US unemployment rate has risen substantially this year so far. At the start of the year, the unemployment rate was 3.7%. By July, it had jumped to 4.3%, the highest unemployment rate the nation has seen since fall 2021. Last month, it edged down slightly to 4.2%, but Federal Reserve officials don’t think will drop any more.
Instead, they see the unemployment rate hitting 4.4% by the end of this year, according to median forecasts included in the Summary of Economic Projections.
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Surprised they did 50 basis points. I know that's kind of what the market was expecting but I thought they would ease in with 25.
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The next FOMC meeting is in November right after the election, so they didn’t want to wait until then especially if the economic conditions were worsening leading up to November.
And lowering by 50 bps in November would have been seen as political, so that was out of the question for them.
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Cutting rates after the election would be less political
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Not surprised after Elizabeth Warren wrote that love letter to Powell to cut it for 75 bps.
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20 sats \ 0 replies \ @Cje95 18 Sep
Andddd the stock market "surged" up a whole 200 point before giving back half of it less than 10 minutes later... smh this economy is so fucked
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12 sats \ 1 reply \ @Bee_Aye 18 Sep
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🤣🤣🤣
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A short flash in the pan action. Crazy how it shot up that fast that quickly, and settled down to trading sideways pretty quickly.
Powell really impacts the traders in the market!
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Lol as if asset prices weren't already high, they're about to get a lot higher!
As if consumer inflation wasn't already high, they're about to get a lot higher
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