Fed leadership concerned over rate cut timing

Marketplace All-in-One

Marketplace

Business, News

4.5 • 1.4K Ratings

🗓️ 21 February 2024

⏱️ 1 minutes

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Summary

Stocks close mixed; Fed members say interest rates likely at their peak; Amazon to join the Dow Jones Industrial Average; bank economists say credit will stay tight this year.

Transcript

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0:00.0	This is the Marketplace Minute.
0:03.0	I'm Justin Ho.
0:05.0	Stocks were mixed on Wednesday.
0:06.5	The Dow and the S&P rose more than a tenth of a percent, but the NASDAQ fell 3 tenths percent. Members of the Federal Reserve's Open Market Committee think it will not be appropriate for
0:16.2	them to cut interest rates until they're more confident that inflation is moving in the
0:20.0	right direction.
0:21.0	That's according to minutes from the committee's latest meeting.
0:23.2	Members also said that interest rates are probably at their peak.
0:26.6	S&P Dow Jones indices says it's adding Amazon to the Dow Jones Industrial
0:31.5	Average. It replaces Walgreens Boots Alliance.
0:35.0	Another Dow member, Walmart, is splitting its stock,
0:38.0	which will lower its share price.
0:40.0	Adding Amazon will help the Dow make up for that.
0:43.0	And bank economists, surveyed by the American Bankers Association, say lenders will be cautious
0:47.8	about issuing credit this year.
0:50.0	But those concerns will ease once interest rates start default.
0:54.0	I'm Justin Ho, with the Marketplace Minute. You're going to.

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