Federal Reserve Takes Cautious Stand On Inflation, Powell Signals Preference For Rate Cuts Over Hikes [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
During the press conference following the Fed's decision to hold rates steady in May, Powell emphasized the next policy is “unlikely” to be a rate hike, pushing back market fears of tighter interest rates. Indeed, once there is enough confidence of inflation returning to the target level of 2%, “rate cuts would be in scope,” the Fed chair stated. His statements were widely interpreted by the financial community as having dovish undertones. This perspective was also reflected in subsequent market reactions which saw Treasury yields falling. As a result, bonds witnessed some gains, with the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT ) up 0.8%. Broader uncertainties surrounding Fed policies led to volatility in risky assets, with stocks erasing gains during the session and the SPDR S&P 500 ETF Trust (NYSE: SPY ) closing 0.3% lower. It is evident that after this May's FOMC meeting and Powell's subsequent comments, there is a diverse range of opinions among Wall Street anal
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BAC
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- 5/16/24 - Form 424B2
- 5/16/24 - Form 424B2
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