- Bay Area Times
- Posts
- Fed keeps rates at 5.25% - 5.50%, with a rate cut ‘as soon as [Sep.]’
Fed keeps rates at 5.25% - 5.50%, with a rate cut ‘as soon as [Sep.]’
Bay Area Times
August 01, 2024
Brought to you by:
Top stories today:
- Fed keeps rates at 5.25% - 5.50%, with a rate cut ‘as soon as [Sep.]’
- Meta’s revenue +22% to $39.1B, as Reality Labs still loses $4.5B
- NVIDIA stock +13% after Microsoft’s bullish results, AMD’s results
- Harris edges higher to 43% odds after Trump interview, more polling
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Fed keeps rates at 5.25% - 5.50%, with a rate cut ‘as soon as [Sep.]’
Risks to the Fed’s “dual mandate” were added to the FOMC statement, signaling a growing worry with weaker labor markets:
Powell’s full quote: “The question will be whether the totality of the data, the evolving outlook, and the balance of risks are consistent with rising confidence on inflation and maintaining a solid labor market. If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September.”
Markets price in a near certainty of rate cuts in Sep., little changed from before the meeting
Pipedrive’s easy and effective CRM lets you track your sales pipeline, manage deals, and automate the whole process so you can focus on one thing: selling.
Draft quick, compelling, and personalized emails from simple prompts in just a click.
Summarize threads with Al to save valuable time.
*Sponsored.
