Gold, rate cut and U.S. Data
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U.S. Treasury Secretary Scott Bessent said on Tuesday the Federal Reserve's system of managing interest rates is struggling and needs to be simplified.
For some investors, they bet on a vehicle known as "Federal Funds futures" to hedge. For others, it's just that — a bet.
1don MSN
Big Changes Coming to the Fed—And Interest Rates—Next Year If This Frontrunner Gets Powell’s Job
The reported frontrunner to take over as Federal Reserve chair in May has a recent track record of advocating for the central bank lowering interest rates.
The average rate on a 30-year U.S. mortgage ended a three-week streak of increases, reflecting a pullback in long-term U.S. Treasury bond yields. The average long-term mortgage rate fell to 6.23% from 6.
Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates. The future for the S&P 500 gained 0.3%, while that for the Dow Jones Industrial Average was up 0.
The last piece of inflation data the Federal Reserve will see before its pivotal December meeting to debate another interest-rate cut showed just a mild increase in wholesale prices even before the government shutdown.