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Goldman Says Markets Too Hawkish on Betting Fed Will Hike Rates Bloomberg.comGood news for bitcoin: Goldman says September Fed rate hike is 'very unlikely.' CoinDeskGoldman Sachs: labour market "not that interesting" as inflation dominates Fed debate investingLiveGoldman says market bets on Fed rate hikes are too aggressive Crypto BriefingGoldman Says Market Overstates Fed Tightening, Sees Little Chance of Septem
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Emerging markets march out of 'valley of tears' as investors diversify reuters.comSee more headlines & perspectives on Google News
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Stock futures are little changed after S&P 500 posts three-week win streak: Live updates CNBCU.S. stock futures little changed as investors ponder the Fed's next move MarketWatchStock Futures Little Changed Ahead of Retail Earnings Barron'sWith Fed mum on next move, investors look to earnings to keep stocks afloat TradingView
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Wharton marketing professor Jonah Berger discusses his published study, "Topography of Thought," which was co-authored with Olivier Toubia, business professor at Columbia Business School. The paper examines how someone's writing style can be indicative of their future success, and where generative AI might come into the picture.
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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