Federal Reserve keeps interest rates unchanged
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 1 May 2024
⏱️ 1 minutes
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Summary
Stocks close mixed; Powell says Fed prepared to keep rates unchanged for as long as it needs to; job openings hold steady; manufacturing sector contracts.
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 after the Federal Reserve announced as keeping interest rates unchanged. |
| 0:09.0 | The Dow gained a quarter of a percent, but the S&P and the NASDAQ fell, a third of a percent. |
| 0:14.9 | Federal Reserve Chair Jay Powell said progress on reducing inflation has stalled in recent months |
| 0:19.8 | and that the Central Bank is prepared to keep rates where they are for as long as it takes to bring inflation down to its 2% target. |
| 0:26.2 | Pall says he thinks interest rates are still causing the economy to slow down and that inflation will probably start falling again later this year. |
| 0:34.0 | The number of job openings didn't change much between February and March, |
| 0:38.0 | according to the Labor Department. |
| 0:39.0 | Job openings fell in construction, along with finance and insurance, they rose in education. |
| 0:45.6 | And the manufacturing sector contracted in April, according to the Institute for Supply Management. |
| 0:50.1 | It says the sector is showing signs of recovery. |
| 0:52.7 | For instance, manufacturing output rose slightly. |
| 0:56.0 | I'm Justin Ho, with the marketplace minute. You're going to. |
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