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‘Substantial bulk” of Fed authorities see rate walkings slowing ‘quickly,’ -minutes By Reuters

© Reuters. SUBMIT IMAGE: The U.S. Federal Reserve structure is imagined in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo

NEW YORK CITY (Reuters) – A “substantial majority” of policymakers at the Federal Reserve’s conference early this month concurred it would “likely soon be appropriate” to slow the rate of rates of interest walkings as argument expanded over the ramifications of the U.S. reserve bank’s quick tightening up of financial policy, according to the minutes from the session.

MARKET RESPONSE:

STOCKS: U.S. stocks increased after the Fed minutes.BONDS: U.S. Treasury two-year, 10-year yields slipped.FOREX: The dollar extended losses versus the yen and euro.

REMARKS:

MICHAEL JAMES, HANDLING DIRECTOR OF EQUITY TRADING AT WEDBUSH SECURITIES, LOS ANGELES

    “Multiple Fed governors indicated a slowing in the pace of rate hikes, which is pretty much exactly what equity markets needed to hear. They didn’t say they’re going to be pausing. Merely the fact that they’re going to be slowing the pace confirms what the majority of people have been hoping to see. That’s why you’re seeing an equity spike initially. Obviously, we’ll see where things go in the next two hours.”

    “What equity markets needed to see for the recent strength to continue was what we got from the minutes.”

Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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