Fed leadership still waiting for more good data

Marketplace All-in-One

Marketplace

Business, News

4.5 • 1.4K Ratings

🗓️ 14 February 2024

⏱️ 1 minutes

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Summary

Stocks rise; Fed could hold rates steady at its next meeting; Lyft includes typo in earnings forecast; Airbnb revenue rises.

Transcript

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0:00.0	This is the Marketplace Act. I'm Justin Ho. Stocks closed up on Wednesday. The Dow
0:07.1	gained 4 tenth percent. The S&P added almost 1 percent and the NASDAQ rose 1 and 3 10%
0:14.0	The Federal Reserve's Vice Chair for Supervision, Michael Barr, said the
0:18.0	Central Bank needs to see continued good data
0:20.0	before it can begin to cut interest rates.
0:22.0	That echoes comments from several members of the Federal... data before it can begin to cut interest rates.
0:22.8	That echoes comments from several members of the Fed's leadership, and it's a sign that the
0:26.6	Fed will almost certainly hold rates steady at its next meeting in March.
0:31.3	The Right Share Company Lift issued an earnings report with a typo,
0:34.3	accidentally forecasting that profits could rise a lot more than Lift actually expects.
0:39.0	Lift shares initially jumped. Still they ended the day up 35%. And Airbnb says revenue rose
0:46.6	17% compared at the same time last year. The company says bookings rose 12% that's
0:52.2	assigned demand for vacation travel is still strong.
0:54.7	I'm Justin Ho with the Marketplace.
0:57.6	Now. You're going to.

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