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Vanguard Says US Tech 'Euphoria' Can Break One or Two Ways
Joe Davis, chief economist and global head of investment strategy at Vanguard, says the valuation gap between tech and other stocks will narrow in the coming years. "I think we can see some modest deceleration in the tech sector, at some point it has to come," Davis says on Bloomberg Television. "But if the economy holds up, I think other parts of the market could catch up and I think that would be good news."
Federal Reserve officials emphasize the need for more evidence of cooling inflation and remain cautious about the timing of a rate cut.
Zhixun Finance and Economics app learned that on Tuesday, Federal Reserve officials unanimously emphasized the need for more evidence of inflation cooling before interest rate cuts. Several officials also provided insight into the timing of interest rate cuts. Adriana Kugler, a member of the Federal Reserve Board of Directors, said that if the economic situation develops as she expects, it may be appropriate for the Federal Reserve to cut interest rates "later this year." Alberto Musalem, President of the St. Louis Federal Reserve, stated in his first important policy speech that it may take "several quarters" of economic data to support a rate cut. New York Federal Reserve President Williams (Joh
Expected to increase by 27%: the Congressional Budget Office estimates that the US government's budget deficit will be nearly $2 trillion this year.
The Congressional Budget Office (CBO) estimates that within the decade leading up to 2034, the annual deficit will be equal to or exceed 5.5% of GDP, the first time it has remained at a high ratio for over five years since 1930. The CBO expects the Federal Reserve's interest rate cut to be postponed from mid-year to the first quarter of next year.
Fed Members Cool On Raising Interest Rates: 'These Conditions Could Take Months, And More Likely Quarters To Play Out'
Members of the Federal Reserve have indicated that they are in no rush to raise interest rates in speeches given on Tuesday.
Top US economists warn that the Federal Reserve is playing with fire by not lowering interest rates, and it could push the economy into a recession.
According to the Zhitong Finance APP, Claudia Sahm, a former Federal Reserve employee and economist, pointed out that if the Fed does not cut interest rates now, it may risk pushing the economy into a recession. When the three-month average unemployment rate is half a percentage point higher than its 12-month low, the economy is in recession. As the unemployment level has risen in recent months, the so-called 'Sahm rule' has increasingly been discussed on Wall Street, indicating cracks in the originally strong labor market and suggesting potential trouble. This in turn has sparked speculation about when the Fed will begin cutting interest rates. (The Sahm rule is Claudi)
No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today
There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.
S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock
The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.
CBO Raises U.S. Budget-deficit Forecast to Close to $2 Trillion
The numbers: The U.S. budget deficit is projected to hit $1.92 trillion this year, up from $1.69 trillion in 2023, according to updated projections from the Congressional Budget Office released Tuesday.
Fed Watch: FOMC Officials Reiterate Patience, Data Dependence, Before Cutting Rates
Fed Governor Adriana Kugler (voter) said that it is possible that the FOMC could cut rates later in 2024 but said that currently inflation is too high and that further evidence that the recent improve
Fed's Goolsbee: Recent Inflation Data Was Excellent, Hopes to See More
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Tuesday that recent inflation figures have been very positive, and Fed officials hope to see further easing in the future.
Fed's Musalem: I Would Support Additional Tightening If Inflation Becomes Stuck Above 2%
Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem noted on Tuesday that inflation progress may be a longer, slower process than many market participants currently hope. St. Lousi Fed President noted specifically that the labor market remains particularly tight, and that it could take entire months or quarters before policies drag inflation back to convicing Fed target levels.
Fed's Logan Advocated for Further Patience on Policy
Lorie Logan, President of the Reserve Bank of Dallas reiterated that inflation remains too high, although tremendoous progress has been made.
Fed's Kugler: Inflation Progress to Remain Gradual, Watching for Signs of Labor Deterioration
Federal Reserve (Fed) Board of Governors member Adriana Kugler delivered a speech at the Peterson Institute for International Economics on Tuesday, noting that while inflation remains too high, recent inflation data has been encouraging.
Fed's Kugler Sees Rate Cut This Year and Says Economy Is 'Moving in Right Direction'
Federal Reserve Gov. Adriana Kugler on Tuesday said "it will likely become appropriate" to cut U.S. interest rates later this year if the economy continues to slow and inflation wanes as she expects.
Fed's Kugler Offers Four Reasons for Hope on Inflation -- WSJ
By Nick Timiraos Federal Reserve governor Adriana Kugler said she continued to anticipate it would be appropriate for the central bank to lower interest rates this year. Kugler offered four reasons
US Dollar Loses Ground on Weak Retail Sales Figures
On Tuesday, the US Dollar, as measured by the DXY Index (DXY), registered a decline, settling at 105.30.
Fed's Barkin: Inflation data is encouraging and more data is needed.
Thomas Barkin, President of the Richmond Fed in the United States, said that recent inflation data is "very encouraging," but he added that he hopes to see progress towards the Fed's 2% inflation target. "For me, two themes are persistence and broadening," Barkin said on Tuesday at an online event hosted by MNI. He said that persistence means overall and core inflation continue to be on a trajectory that is confident of reaching 2%. Broadening means that price pressure on goods and services is easing. Barkin emphasized that the economy may evolve in different ways, which will affect his best rate path for the future.
Fed's Collins: Fed Has Made Significant Progress, but Inflation Remains Stubborn
Federal Reserve (Fed) Bank of Boston President Susan Collins noted on Tuesday that despite significant progress made on inflation by the Fed and its policies, there's still plenty of work to be done.
Fed's Collins Says Process of Lowering Inflation May Take Longer Than Expected
While recent inflation data has been "encouraging," the process of lowering inflation may take longer than expected, Boston Federal Reserve Bank President Susan Collins said Tuesday at the 2024 Annual
Senior officials at the Federal Reserve have spoken intensively: efforts to control inflation have been effective, and interest rate cuts still depend on the data.
According to William, the President of the New York Federal Reserve, the US economy is moving in the right direction, although recruitment has slowed down despite generally good economic data. Meanwhile, Richmond Federal Reserve President Barkin stated that he would not consider changing interest rates until he saw inflation persistently fall to the Fed's 2% annual target. It may be reasonable to hold off after one rate cut in the future.