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  • Jul 31, 2024

Fed expected to hold rates steady, open door to September cut

The Federal Reserve is expected to leave interest rates unchanged at the end of a two-day policy meeting on Wednesday, but also indicate that a reduction in borrowing costs could come as soon as September. Contracts tied to the U.S. central bank's policy rate show investors are convinced a rate cut will happen at the Sept. 17-18 meeting, with the only disagreement over whether the Fed will begin easing policy with a quarter-percentage-point reduction, as most expect, or a more aggressive half-percentage-point cut, according to CME Group's FedWatch tool. The Fed has kept its policy rate in the 5.25%-5.50% range for the past year.

  • Jul 31, 2024

Stock market today: World stocks are higher, while oil prices jump $2 after Hamas leader was killed

Global stocks advanced Wednesday and oil prices jumped more than $2 a barrel after Hamas’s top political leader Ismail Haniyeh died in an air strike. Haniyeh died in a predawn airstrike in the Iranian capital early Wednesday, Iran and the militant group said, blaming Israel for a shock assassination that could escalate conflict in the region, potentially affecting oil supplies. There was no immediate comment from Israel, which has pledged to kill Haniyeh and other Hamas leaders over the group’s Oct. 7 attack on southern Israel in which the Palestinian militant group killed 1,200 people and took some 250 others hostage.

  • Jul 31, 2024

Latin America Risks Squandering Opportunity for Deeper Rate Cuts Created by Fed

(Bloomberg) -- Just as the Federal Reserve seems ready to clear the way for Latin American central banks to keep cutting interest rates, growing political problems at home are set to disrupt — if not reverse — those easing campaigns.Presidents across the region are lashing out against policymakers for high borrowing costs that are hindering the vigorous economic growth they promised, and in some cases are directly fanning inflation. As central bankers from Brazil, Colombia and Chile all convene

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