Indexes were pulling back. You can see, were now flat across the board. The nasdaq just inching positive. All and all, one of the rare not up days for your stock investments. And of course all of this coming ahead of what is likely just the second fed rate hike in a decade. Tyler . Thank you very much, brian. We are less than an hour away from that fed rate decision. Most people do expect a quarter point hike. Could it be more . Well explore that in this hour as well. It has been a year since the last hike, then there is yellens News Conference, thats at 2 30 eastern time. Steve liesman following all of it for us live in washington. Hi, steve. Good afternoon. Just a quick note that we got some data this morning, the fed got some data on the second day of its meeting when it makes its policy announcement. And decision. And that data was weaker. I want to show you the cnbc rapid update. What happened is economists have taken. 2 off their forecast for the current quarter, down to 1. 8, th
At this point. A lot of folks off for this vacation week, at least in new york city schools. Stocks rally for the second straight is for the second straight day on this low volume but people will take the rally however they cant get it. If you look at this two session rally we have seen, it amounts to about 3. 5 , the best backtoback games weve seen this month. It is also a broadbased rally. Look at the sectors on the move, you have a lot of economically sensitive groups doing well. Thats helping to lead the gains. These have been some of the most tattered groups we have had year to date. Speaking of year to date, lets look at the tally. The s p at the lows of the year was down about 10. 5 . Of ae seeing something bounce off the bottom. The question is will it last and did we indeed see the bottom . And can we define what we are looking at . Is that just semantics at this point . Has this given us a new chance to define could argue that for many individual components, they were in a be
Market conditions and inflation moving back toward the longer run objective, the committee will and its Current Program of asset purchases at its next meeting. They are not at a preset course. Based it goes on to say on the assessment of the factors, it is likely it will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase rogue ram ends. The line remains in there as well. A lot of speculation as to whether or not the fed will remove the guidance. The committee currently anticipates even after inflation , Economic Conditions may warrant keeping a rate for low levels viewed as normal in the long run. The economy,o there is new language and new concerns about inflation. But first of all, since the committee met in july, the economic information received is atts Economic Activity a moderate pace, on balance. The Unemployment Rate is little indicatorsa range of that suggest there remains significant underutilization
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