Fed keeps freeze on interest rates in place as it fine-tunes its fight vs. inflation
The Federal Reserve on Wednesday held interest rates steady and left the door slightly ajar for another...
The Federal Reserve on Wednesday held interest rates steady and left the door slightly ajar for another hike down the road if inflation doesn’t continue to slow.
The decision to hold rates steady in a range of 5.25%-5.5% was unanimous.
Even though the economy expanded rapidly in the third quarter, Fed Chairman Jerome Powell said a series of interest-rate hikes since the spring of 2022 are putting downward pressure on inflation and economic growth.
He also said he expects the economy to soften in the months ahead and help reduce inflation further, though the Fed is not forecasting a recession.
Expert shares cyber strategies for legacy O&G assets
Enhanced connectivity in legacy oil and natural gas infrastructure makes it imperative for cybersecurity...
Enhanced connectivity in legacy oil and natural gas infrastructure makes it imperative for cybersecurity professionals to identify and fortify critical assets and foster clear risk communication with decision-makers, according to ABS Consulting Senior Director of Cybersecurity Blake Benson. "Instead of defending the ocean, you really want to identify these little ponds of criticality" and "then you want to segment those as far away from the internet as possible and from each other to prevent lateral movement," Benson advises.
The number of job openings is seen as a sign of the health of the labor market and the broader U.S. economy. Economists polled by the Wall Street Journal had forecast job listings to total 9.4 million.
While job postings are still high, they have subsided from a record 12 million in 2022.
The energy sector is off to a higher start, supported by strength in the crude complex. Meanwhile, the major equity futures are flat ahead of today’s central bank meeting where traders expect the Fed to keep rates unchanged.
WTI and Brent crude oil futures are recovering yesterday’s losses ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, falling treasury yields, and as the conflict in the Middle East escalates. Israel admitted to striking a refugee camp in Gaza which was being used as a command center by Hamas. An unconfirmed large number of civilians were killed and a number of world leaders have condemned the strikes. OPEC crude output rose by 180K bpd in October driven by Nigeria and Angola. EIA data is set to be reported today, following last night’s API reading which showed a crude build of 1.35 million barrels.
Natural gas futures are pulling back after yesterday’s sharp gains despite forecasts for cooler temperatures.
Historybook: Michelangelo’s Sistine Chapel ceiling exhibited to public for first...
Historybook: Michelangelo’s Sistine Chapel ceiling exhibited to public for first time (1512); Earthquake and tsunami in Lisbon kill 60,000-90,000 people (1755); Apple CEO Tim Cook born (1960); Bollywood actress and Miss World 1994 winner Aishwarya Rai Bachchan born (1973); Football great Walter Payton dies (1999).
Texas Rangers top Arizona Diamondbacks 11-7 to take 3-1 lead in the World Series; Game 5 is tonight (8 pm ET, Fox) from Phoenix (More)
The death toll has risen to at least 8,500 in Gaza and at least 1,400 in Israel. Egypt said its hospitals in northern Sinai and elsewhere would treat injured Palestinians, though the border still appears to be blocked.
Jack Lew, the former Treasury secretary under President Obama, was confirmed by the Senate to be the US ambassador to Israel.
Tesla won a lawsuit that accused its self-driving software of causing a fatal crash. In other news, Tesla has lost $145 billion of its value in the last two weeks due to concerns over waning EV demand.
WeWork will reportedly seek Chapter 11 bankruptcy protections as early as next week after the embattled office-space company missed interest payments it owed to bondholders.
Carlsberg cut ties with its business in Russia after it accused the Kremlin of stealing its remaining assets in the country.
