{"id":6565,"date":"2024-02-01T10:44:20","date_gmt":"2024-02-01T02:44:20","guid":{"rendered":"https:\/\/www.umtradings.com\/?p=6565"},"modified":"2024-02-02T09:44:45","modified_gmt":"2024-02-02T09:44:45","slug":"stocks-sank-as-powell-downplays-rate-cut","status":"publish","type":"post","link":"https:\/\/www.umtradings.com\/th\/stocks-sank-as-powell-downplays-rate-cut\/","title":{"rendered":"Stocks Sank as Powell Downplays Rate Cut\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In the January meeting, the Federal Reserve (FED) opted to maintain Fed funds rate at 5.25%-5.5%, holding steady at its 23-year high for the fourth consecutive meeting, aligning with expectations. Policymakers conveyed that they are hesitant to lower rates until they are more confident in inflation sustainably approaching 2%. \u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the press conference, Fed Chair Powell indicated&nbsp;the likelihood of rate reduction sometime this year but emphasized that decisions will be made on a meeting-by-meeting basis, expressing skepticism about a cut in March. Simultaneously, the Fed omitted references to potential rate hikes in its statement, citing improved balance in the risks associated with achieving employment and inflation goals. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the Fed emphasized readiness to adjust monetary policy if emerging risks threaten those objectives. The central bank acknowledged a slight easing of inflation over the past year but highlighted that it remains elevated. Consequently, the US dollar strengthened and rebounded above 103.5 levels, while the US 10-year Treasury yield hovers near 2-week low of 3.97%. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nonetheless, selling pressures hit stocks. During Wednesday&#8217;s trading session, Dow Jones fell by 0.82%, the S&amp;P 500 went down by 1.61%, and the Nasdaq Composite plunged by 2.23%. All 11 sectors of the S&amp;P concluded in the red territory, with communication services, technology, and energy leading the selloff.\u00a0<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/wp-content\/uploads\/2024\/02\/\u5e02\u5834\u71b1\u9ede-1.jpg\" alt=\"\" class=\"wp-image-6566\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>(Fed Fund Rates)\u00a0<\/em><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.umtradings.com\/wp-content\/uploads\/2024\/02\/\u5e02\u5834\u71b1\u9ede-2.jpg\" alt=\"\" class=\"wp-image-6568\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>(Dollar Index Six-month Chart)\u00a0<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Disclaimer&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the January meeting, the Federal Reserve (FED) opted to maintain Fed funds rate at 5.25%-5.5%, holding steady at its 23-year high for the fourth consecutive meeting, aligning with expectations. Policymakers conveyed that they are hesitant to lower rates until they are more confident in inflation sustainably approaching 2%. \u00a0 During the press conference, Fed [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":6635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2,3],"tags":[39,66],"class_list":["post-6565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market_news","category-latest","tag-fed","tag-us-interest-rates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/posts\/6565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/comments?post=6565"}],"version-history":[{"count":0,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/posts\/6565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/media\/6635"}],"wp:attachment":[{"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/media?parent=6565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/categories?post=6565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.umtradings.com\/th\/wp-json\/wp\/v2\/tags?post=6565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}