The Fed said that starting on June 1 it was reducing the cap on Treasury securities it allows to mature and not be replaced to $25 billion from its current cap of up to $60 billion per month. The Fed left the cap on how many mortgage-backed securities it will allow to roll off its books at $35 billion per month, and it will reinvest any excess MBS principal payments into Treasuries. The announcements came at the end of its two-day Federal Open Market Committee meeting.
Dollar/yen Nosesdives Again as Market Watches for BOJ Intervention usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
U.S. economic growth slowed more than expected in the first quarter, but a surprisingly hot quarterly Personal Consumption Expenditure inflation component suggested that the Federal Reserve would not cut interest rates before September. The economy has defied prophecies of doom since late 2022 following the Fed's aggressive rate hiking campaign to stamp out inflation. It is a down shift in economic growth and it confirms the trend of accelerating inflation.
Q1 US GDP Shows Surprise Slowing and Uncomfortable Inflation usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.