October 13th, 2023 Inflation Heats Up Impact on the Market
Update: 2023-10-13
Description
In this episode, we tackle the Federal Reserve's interest rate dilemma unveiled in the latest meeting minutes, showcasing a majority leaning towards another rate hike amidst contrasting economists' forecasts. The narrative shifts to the US inflation rate exceeding expectations, stirring debates on the Federal Reserve's next step amidst strong job figures. The spotlight then moves to the weakening US stock futures, triggered by soaring oil prices and China's frail economic data, hinting at a possible Fed funds rate cut in 2024. Despite the rough waters, Nasdaq and S&P 500 find a higher opening, with Wall Street juggling the ramifications of a robust inflation report on forthcoming Federal Reserve actions.
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