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Stock impact report

Fed speeches reveal split that puts rate cut in jeopardy: persistent inflation vs ‘low-hire, low-fire' labor market [Fortune]

M&T Bank Corporation (MTB) 
Last m&t bank corporation earnings: 4/20 06:37 am Check Earnings Report
US:NYSE Investor Relations: finance.yahoo.com/quote/m
Company Research Source: Fortune
“It's reflective of a ton of uncertainty,” said Luke Tilley, chief economist at M&T Bank. “It's not surprising at all that there's a wide divergence of opinions.” Fewer rate cuts by the Fed could leave borrowing costs for homes and cars elevated. More expensive mortgages and auto loans contribute to the widespread view, according to polls , that the cost of living is too high. Some Fed watchers say that an unusually high number of dissents are possible at the December 9-10 meeting, regardless of whether the central bank reduces rates or not. Krishna Guha, an analyst at Evercore ISI, said a decision to cut could lead to as many as four or five dissents, while a decision to keep rates unchanged could produce three. Four dissenting votes would be highly unusual, given the Fed's history of seeking consensus. The last time four officials dissented was in 1992, under then-Chair Alan Greenspan. Fed governor Christopher Waller on Monday noted that critics of the Fed often accuse it o Show less Read more
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