Reported 7 months ago
Compiled by Liu Zhongyong/Aggregated from foreign news on June 12, 2024, at 6:43 pm: Key points from the Federal Reserve (Fed) interest rate decision and Chairman Powell's speech include: 1. FOMC predicts only one rate cut this year, with Powell emphasizing the need to observe data. 2. Powell optimistic about inflation progress, labor market returning to pre-pandemic state. 3. Rates unlikely to return to pre-pandemic levels. 4. Market reacts more strongly to inflation data than Fed decisions. S&P 500 index rose 0.9%, with yields on U.S. bonds falling. Powell's remarks sought clues on Fed's next steps.
Source: YAHOO