Fed holds steady
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 15 June 2023
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Thursday, June 15th, and I'm your host Julie Morgan. |
| 0:12.0 | As expected, the Federal Reserve opted for a pause |
| 0:15.4 | but signaled it's not over just yet. |
| 0:17.8 | Music publishers are suing Twitter for copyright infringement |
| 0:21.5 | and True Car rallies after announcing a major restructuring. |
| 0:25.2 | Here's what's making headlines today. As widely expected, the Federal Reserve kept |
| 0:31.0 | its policy rate unchanged at 5 to 5.5 and a quarter percent on |
| 0:34.7 | Wednesday, breaking a streak of 10 rate hikes. |
| 0:37.8 | The pause gives the policy makers more time to assess the impacts of the five percentage points of hikes they've already implemented. |
| 0:45.2 | Still the Fed indicated that it may not be done with rate hikes. |
| 0:48.8 | Fed Chair Jerome Powell said that nearly all policy makers viewed that some further rate hikes will be |
| 0:54.7 | appropriate this year. It will continue to monitor incoming data to see if |
| 0:59.6 | inflation continues to recede in coming months. We had a special edition of Wall Street Brown. The Kim Khan spoke with Kime Siegel, the investing group leader of Fed Trader on Seeking Alpha. |
| 1:16.0 | He talked about what the pause means for an over-bought market, bad news, and something he's paying close attention to. |
| 1:22.0 | So the fact that the market's over-bought and you have... news and something he's paying close attention to. |
| 1:23.0 | So the fact that the market's overbought and you had quote bad news with |
| 1:27.0 | oh we expect more rate hikes but the market's kind of not budging. |
| 1:30.5 | It just means that you know we're still in a bull market. This is very healthy. I would say that there is one thing I am worried about is the jobless claims |
| 1:39.0 | Last week it spiked and all year I've been saying when bears were worried about recession I was just |
| 1:45.3 | focused on that jobless claims number saying you know it's been very strong GDP's |
| 1:49.5 | holding up so I'm not sure what the bears are worried about and as long as the economy's holding up and that's what he guided to and maybe he had as a peak sneak peek at what the jobless claims report is going to be tomorrow is my guess that maybe it came down from that spike meaning it's a |
... |
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