General Discussion

WarGamer

(15,976 posts)

11. Today was the FOMC meeting... where they talk about money policy including interest rates.

Wed Dec 18, 2024, 07:39 PM

Dec 18

The market wanted more rate cuts today and more predicted for 2025.

JPow came up with a tiny 25bp cut today and poured cold water on the prospect of cuts in 2025.

https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-clobbered-as-fed-powell-signal-fewer-rate-cuts-in-2025-210323475.html

Stock market today: Dow, S&P 500, Nasdaq clobbered as Fed, Powell signal fewer rate cuts in 2025

Ten Fed officials estimated two interest rate cuts next year, fewer than four seen in September, as officials marked up their projections for core inflation and economic growth next year, while lowering their forecast for the unemployment rate in 2025.

"The slower pace of cuts for next year really reflects both the higher inflation readings we had this year and the expectation inflation will be higher," Fed Chair Jerome Powell said. He added later that as long as the economy and labor market remain "solid," "we can be cautious as we consider further cuts."

Edit history

Please sign in to view edit histories.

Recommendations

3 members have recommended this reply (displayed in chronological order):

virgdem SCantiGOP rictofen

45 replies

= new reply since forum marked as read

Highlight:

Elon Musk Derails Spending Bill Just Before Deadline, [View all] senseandsensibility Dec 18 OP

Details, pls. How did Muck derail the bill? Twisted Reps, and Senator's arms? With what power? brush Dec 18 #1

This message was self-deleted by its author LisaL Dec 18 #2

He Tweeted: This Bill must not pass. Nictuku Dec 18 #5

Same. orangecrush Dec 18 #30

This is the Money is Freedom of Speech, unintended consequences ... aggiesal Dec 18 #23

HE can do what he wants, he bought the US gov fair and square :/ NotHardly Dec 18 #33

Sure seems like. He's acting like chief executive himself... brush Dec 18 #39

Is Elon running America? Who made him King? (I actually know 🤬) walkingman Dec 18 #3

America did. Maru Kitteh Dec 18 #10

People who don't care and just want to burn it down. haele Dec 18 #15

DOW dropped because JPow... WarGamer Dec 18 #4

Sure Looks That Way ProfessorGAC Dec 18 #6

I think the market really wanted a 50bp cut today and better plans for 2025 drops. WarGamer Dec 18 #7

We Agree ProfessorGAC Dec 18 #9

What? Nictuku Dec 18 #8

Today was the FOMC meeting... where they talk about money policy including interest rates. WarGamer Dec 18 #11

I think SS checks will still go out. Beck23 Dec 18 #20

Let's hurry to the day this isn't our problem anymore In It to Win It Dec 18 #12

GOP can't govern but they can destroy. bronxiteforever Dec 18 #13

That's because toddlers destroy. It's easier to smash something than to create something. TheBlackAdder Dec 18 #26

Good point. bronxiteforever Dec 18 #27

That's what their benefactors paid them to do. Bluethroughu Dec 18 #29

Governing hasn't been their raison d'etre for decades now... slightlv Dec 18 #31

see... this is where a Democratic party focusing on messaging could do real damage Takket Dec 18 #14

Excellent question "who is actually running bronxiteforever Dec 18 #16

You nailed it senseandsensibility Dec 18 #22

I'm flabbergasted no one has shut Musk up. slightlv Dec 18 #32

After all of Trump's nonsense about Obama being born in Africa and not being eligible for the presidency, BadgerMom Dec 18 #35

So if there's no budget, what exactly are Trump and the Republicans going to do exactly? ananda Dec 18 #17

It'll be interesting to see how Trump reacts to Musk taking charge. NH Ethylene Dec 18 #18

If a brown middle eastern man presented such an active & ongoing threat to the US Orrex Dec 18 #19

I am thinking of an immigrant we should deport. struggle4progress Dec 18 #21

This message was self-deleted by its author AllaN01Bear Dec 18 #24

What makes the moskrat guard his mosk? Money. surfered Dec 18 #25

Hmmmmmm LPBBEAR Dec 18 #28

Who is the president right now?? Jeez, where are our leaders?? AllyCat Dec 18 #34

Ahhh, president-elect donald musk has spoken... SWBTATTReg Dec 18 #36

Is this the "Naughty Girl Spanking" that Tucker promised us? Thunderbeast Dec 18 #37

Does this include funding for the inauguration? Arazi Dec 18 #38

Nah, Zuck and Bezos have that covered. bluesbassman Dec 19 #44

Wouldnt Biden have to carve out funds for security? Arazi Dec 19 #45

To borrow his catchphrase - Interesting newdeal2 Dec 18 #40

K&R UTUSN Dec 18 #41

Maybe musk needs to remember... Starfury Dec 19 #42

No, this is great Babajida Dec 19 #43