• Dec 18, 2024

Fed's Powell Shocks Markets After Interest Rate Cut: 'It's A New Phase'

In a year marked by three consecutive rate cuts totaling 100 basis points, Federal Reserve Chair Jerome Powell said the Fed is shifting gears to a more cautious stance heading into 2025 as interest rates move tantalizingly close to a neutral environment for the economy. Following the latest 25-basis-point reduction announced Wednesday, the federal funds rate now sits at 4.25%-4.5%, the lowest since January 2023. “We’re significantly closer to neutral,” Powell said during the post-meeting press c

  • Dec 18, 2024

Oil Pares Gain as Fed’s Outlook Tempers US Inventory Optimism

(Bloomberg) -- Oil rose as strong US crude exports signaled firm global demand before paring gains after the Federal Reserve reduced the number of rate cuts it expects to make next year.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousWest Texas Intermediate advanced 0.7% to settle below $71 a barrel, while Brent edged higher to settle above $73. WTI’s gain shrank after the session as the Federal Reserve’s outlook for 2025 boosted the dollar, making commodit