Fed holds back on rate cuts
Marketplace All-in-One
Marketplace
4.8 • 1.3K Ratings
🗓️ 12 June 2024
⏱️ 1 minutes
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Summary
Markets mixed; Fed signals one rate cut this year; Inflation cools in May; Sony buying Alamo Draft House theater chain.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Megan McCarty Carino. |
| 0:04.6 | Markets were mostly up Wednesday. The Dow was basically flat. The S&P edged up almost a percent, |
| 0:10.9 | and the NASDAQ gained 1.5 percent. The Fed delivered some so-so news |
| 0:15.7 | to investors looking for interest rates to come down. Central bankers expect just a single |
| 0:20.6 | rate cut this year and held the benchmark steady. |
| 0:23.4 | While inflation has been coming down, the Fed cited strong growth and hiring and pointed to more |
| 0:28.8 | aggressive cuts next year. |
| 0:31.2 | The Fed's caution came to spite another bit of positive inflation data today. |
| 0:35.0 | The Consumer Price Index stayed flat last month and prices were up 3.3% over the year. |
| 0:41.0 | The report adds to evidence that inflation is finally easing |
| 0:44.7 | after staying hot through the beginning of the year. And Sony Pictures has acquired |
| 0:49.2 | the Alamo Draft House chain of Dine-In movie theaters. Studios had been banned for more than |
| 0:54.7 | 70 years from owning theaters, but the ban expired in 2020. I'm Megan McCarty |
| 0:59.9 | Karino with the Marketplace Minute. |
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