"With the Fed's latest rate increase of 25 basis points now in the books, we think that improvement in the underlying pace of inflation, cooler job creation and modest growth are creating the conditions where the Fed can effectively end its rate hike campaign." "It is time for the Fed to give the economy time to absorb the impact of past rate hikes," said Joe Brusuelas, U.S. The Dow Jones Industrial Average continued its streak of higher closings, rising by 82 points, but the S&P 500 and Nasdaq Composite were little changed. Markets initially bounced following the meeting but ended mixed. Powell said the FOMC will be assessing "the totality of the incoming data" as well as the implications for economic activity and inflation. "And I would also say it's possible that we would choose to hold steady and we're going to be making careful assessments, as I said, meeting by meeting." "I would say it's certainly possible that we will raise funds again at the September meeting if the data warranted," said Powell. While policymakers indicated at the June meeting that two rate rises are coming this year, markets have been pricing in a better-than-even chance that there won't be any more moves this year.ĭuring a news conference, Chairman Jerome Powell said inflation has moderated somewhat since the middle of last year, but hitting the Fed's 2% target "has a long way to go." Still, he seemed to leave room to potentially hold rates steady at the Fed's next meeting in September. Markets were watching for signs that the hike could be the last before Fed officials take a break to watch how the previous increases are impacting economic conditions. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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