By Staff Reporters
***

***
The FOMC just held interest rates steady and interest rates probably won’t go down in March.
Most investors were expecting the Federal Reserve to finally start cutting interest rates at its next meeting in March, but after its latest meeting concluded yesterday, Jerome Powell splashed cold water on that idea.
Speaking during a press conference, Powell explained that he doesn’t think it’s likely that the Federal Reserve will have reached “a level of confidence” that inflation has come down enough to start slashing rates that soon.
However, he at least said cuts were likely coming sometime this year. And, the markets crashed. Technology stocks in particular had a rough one, giving the NASDAQ its worst day since October.
And, NY Community Bancorp—which scooped up most of failed Signature Bank’s assets last year—tanked after reporting a surprise loss for Q4, spurring fears of another regional banking crisis.
COMMENTS APPRECIATED
Thank You
***
***
Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Funding Basics, Glossary Terms, Investing | Tagged: Federal Reserve, FOMC, interest rates, IRS, Jerome Powell, NY Community Bancorp, stock crah |














Leave a comment