Stock market's big rally, inflation could mean Fed has only one rate cut left before a pause, says CIO
Wednesday's inflation reading, while ticking up to a 2.6% yearly rate as expected, continues to hold above the Federal Reserve's 2% target. Combining that with the easing of financial conditions on the heels of a powerful rally in the stock market in early November could drive the Fed to cut rates only one more time before taking a pause,
Stocks turned lower in afternoon trading, and that pressure continued through Friday. The S&P 500 fell as much as 1.6%, and has now given back more than half of its torrid 4% post-election gain. The ...
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Follow along for live updates on stocks, bonds and markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
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The rise in the 10-year Treasury yield since the Fed's September interest-rate meeting was due to a stronger economy, said St. Louis Fed President Alberto Musalem on Wednesday. "Stronger data ...
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