Fed opens the door to potential rate cuts later this year

The Federal Reserve kept interest rates on hold on Wednesday (June 19), but signaled that rate cuts could be coming down the road. It removed the key word “patient” from its policy statement, while noting that “uncertainties” about its previously rosy economic outlook have increased. This marks a significant shift in tone for the central … Read moreFed opens the door to potential rate cuts later this year

Empire State manufacturing index posts largest-ever drop into negative territory in June

The New York Fed’s Empire State business conditions index took a sharp turn for the worse in June, falling into negative territory for the first time in more than two years. The Empire State manufacturing index plummeted 26.4 points to negative 8.6 in June, the New York Fed said Monday. That’s a record decline. Economists … Read moreEmpire State manufacturing index posts largest-ever drop into negative territory in June

Powell’s Concern Over Zero Rates Expected to Lower Bar for Fed Cut

Chairman Jerome Powell’s frequent assurance that sustaining the U.S. economic expansion is the Federal Reserve’s “overarching’’ goal is opening the door to potentially aggressive interest-rate cuts. The timing, size and whether such moves are indeed in his plans may become clearer when Powell and his colleagues meet on Tuesday and Wednesday in Washington. While investors … Read morePowell’s Concern Over Zero Rates Expected to Lower Bar for Fed Cut