Fed's Barkin is on the wires saying:
Baseline outlook for 2025 is positive, with more upside than downside risk to growthAs long as employment and asset values remain strong, consumers will spendInflation still not back to target, more work to doStory of 2025 will be less about monetary policy, more about economic fundamentals and perhaps geopoliticsFed is well positioned to respond regardless of how the economy developsUncertainty in financial markets appears to have fallen, market-predicted policy path seems aligned with Fed medianIncreased understanding that long-term rates may not fall as much as had been hopedLabor market more likely to break toward increased hiring than toward layoffsThere are some potential upside risks to inflation,Comments are more hawkish, but aligned with the Fed rate decision from December 18. The good news is economy remains strong. The bad news is that inflation has not reached its 2% target. The Fed cut its forecast for rate cuts in 2025 to 2 from 4 previously.
US stocks remain higher:
Dow up 200 points or 0.47% at 42589S&P index of 38.43 points or 0.66% at 5907. NASDAQ index up 169.61 points or 0.80% at 19451Russell 2000 up 19.87 points or 0.89% at 2251.59The broader S&P and NASDAQ indices have been down for five consecutive days.
In the US debt market, yields are trading above or below unchanged along the yield curve:
2-year yield 4.251%, +0.4 basis points5-year 4.380%, unchanged10 year 4.573%, -0.2 basis points30 year 4.793%, -0.4 basis points This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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