I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
The US Federal Reserve are largely expected to pause the rate hike cycle on Wednesday with updated economic projections. The lingering fear of a resurgence in inflation will likely keep the door open for another rate hike in Q4.
a series of tweets including one signed make america great again hat. west posting spree sparked an online backlash but his wife reality star kim kardashian defended him saying west didn t say he agreed with trump s politics. ok monica joins me now and fuzz results coming out of the european central bank policy meeting monica is always about this time where we get sort of the first idea what the easy be is planning and what we know now is that the european central bank has kept its key interest rate at zero percent now while the decision was widely expected the markets watching closely for more clues on future rate hikes and the end to stimulus the rate on the deposit facility stated minus northpoint forty percent meaning banks have to pay to park their excess cash with the bank policymakers also stuck to the bank s thirty billion euro bond buying program which is scheduled to run at least until september. so let s find out what more