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Outside the Box: Why the Federal Reserve won’t please investors this week

Federal Reserve policy makers on Thursday will announce its decision on interest rates, and although most economists don’t expect an increase this time, almost everyone expects a heated debate.

Wall Street is expecting push back against the current policy directive of gradually raising rates through 2019 — if economic data continue to support that directive.

Importantly, this directive doesn’t include knee-jerk reactions to short-term fluctuations in the stock market. The benchmark S&P 500 Index SPX, +0.63% shed 6.9% in October. The focus is on economic data, and economic data have been solid. So long as that remains true, the Federal Reserve will remain on its path to gradually increasing interest rates.

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