NEW YORK: Wall Street closed little changed on Monday (Sept 18) as market participants looked ahead to the US Federal Reserve’s (Fed) expected decisio...
Investors, with few catalysts, show little conviction heading into the Fed's two-day monetary policy meeting. – AFPpicWall Street closed little changed on Monday as market participants looked ahead to the US Federal Reserve’s expected decision to leave key interest rates unchanged on Wednesday.
“ Powell can spark big moves in either direction with his comments and you don’t want to get caught on the wrong side of it,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Treasury Secretary Janet Yellen on Monday said that while she sees no risk of an economic downtown, she warned that a government shutdown would be “Creating ... a situation that could cause a loss of momentum is something we don’t need as a risk at this point.”
Financial markets have currently baked in a 99% certainty that the Fed will hold the key rate at 5.25%-5.00% on Wednesday. Beyond that, the trajectory is less certain, with a 69% likelihood of the FOMC holding firm in November, according to CME's FedWatch tool.
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