![]() "We're not forecasting a recession," Sekera said. market strategist at Morningstar Inc (MORN.O), said growth will remain sluggish for the foreseeable future and likely will not start to reaccelerate until the second half of 2023, but he does not see a sharp downturn. ![]() REUTERS/Brendan McDermidÄave Sekera, chief U.S. ![]() Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 7, 2022. "The market has been slowly getting the Fed's message," said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia. The equity market has been slow to acknowledge a consistent message from Fed officials that rates will go higher for longer until the pace of inflation is clearly slowing.Ĭhicago Fed President Charles Evans was the latest to spell out the central bank's outlook on Thursday, saying policymakers expect to deliver 125 basis points of rate hikes before year's end as inflation readings have been disappointing. Markets briefly took comfort from data that showed weekly jobless claims rose by the most in four months last week, raising a glimmer of hope the Fed could ease the implementation since March of the fastest and highest jump in rates in decades. Oct 6 (Reuters) - Wall Street's major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve's aggressive interest rate stance will lead to a recession.
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