2 Mins Ago
Fed will move ‘carefully’ on rate cuts, Powell tells 60 minutes
In an interview with CBS’ “60 Minutes” on Sunday, Fed Chair Jerome Powell said that the Fed would move “carefully” on lowering interest rates and indicated that the market may be betting on too many cuts.
“We want to see more evidence that inflation is moving sustainably down to 2%,” Powell added. “Our confidence is rising. We just want some more confidence before we take that very important step of beginning to cut interest rates,” Powell told 60 Minutes’ Scott Pelley, according to a transcript from CBS.
“We’ll update [the outlook] at the March meeting. I will say, though, nothing has happened in the meantime that would lead me to think that people would dramatically change their forecasts,” Powell added.
— Jesse Pound, Jeff Cox
58 Mins Ago
Week in review
Here are the market stats from last week:
- The Dow gained 1.43% for the week, its fourth positive week in a row.
- The S&P 500 gained 1.38% for the week, its fourth positive week in a row.
- The Nasdaq Composite gained 1.12% for the week, its fourth positive week in a row.
- All three major averages have risen in 13 of the past 14 weeks.
— Jesse Pound, Christopher Hayes
An Hour Ago
Stock futures open flat
Stock futures were quiet when trading began at 6 p.m. in New York, with the three major futures contracts all trading within 0.1% of their previous close.
— Jesse Pound
