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Stock impact report

US Fed to meet amid dwindling hopes of summer rate cuts [Yahoo! Finance]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
Company Research Source: Yahoo! Finance
The Fed's decision to hike interest rates and then hold them at a 23-year high has helped to significantly lower elevated inflation, although it remains stuck firmly above the US central bank's long-term target of two percent. Since the start of this year, the Fed's favored inflation measure has actually accelerated, hitting an annual rate of 2.7 percent in March, while economic growth has slowed, and the labor market has remained robust. The current environment, analysts say, is likely to lead the rate-setting Federal Open Market Committee (FOMC) to hold rates at their current level of between 5.25 and 5.50 percent for longer than previously thought. "Another round of elevated inflation data is likely to lead to a more hawkish-leaning message at the May FOMC meeting," economists at Deutsche Bank wrote in a recent note to clients. - Dialing back expectations - At the most recent FOMC meeting in March, policymakers penciled in three quarter percentage-point rate cuts this ye Show less Read more
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