Fed Keeps Interest Rates Unchanged, Predicts 3 Rate Cuts in 2024

Published on December 13, 2023

The Federal Reserve left interest rates unchanged at a range of 5.25 percent and 5.50 percent at the final Federal Open Market Committee (FOMC) policy meeting of December. Rate-setting Committee members stated that recent data suggest that economic growth has slowed from the strong third quarter. While the labor market has moderated since the beginning of 2023, employment gains remain strong as the unemployment rate has remained low. Inflation has also eased over the last year but remains above elevated, the Fed said. “The U.S. banking system is sound and resilient. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks,” the FOMC statement said....

Continue reading on website
Other news

Tanker in Red Sea Targeted by Speedboat Gunfire, Cruise Missiles

December 13, 2023
A tanker in the Red Sea off the coast of Yemen was fired on by gunmen from a speedboat and targeted with missiles, maritime sources said on Wednesday, in the latest incident to threaten the shipping lane after Yemeni Houthi terrorists warned ships not to travel to Israel.A second vessel was also approached by the speedboat in the same area but was not engaged, British maritime security firm Ambrey

Pfizer Downgrades 2024 Forecast Due to Flagging Vaccine Sales, Sinking Stock Price

December 13, 2023
Pfizer executives on Dec. 13 said they expect to make less money than expected in 2024, a few months after acknowledging 2023 sales would likely be lower than expected due to flagging COVID-19 vaccine and drug uptake.Pfizer shares hit a 10-year low after the announcement.Revenue from Pfizer’s COVID-19 vaccine and Paxlovid drug, which peaked at $57 billion in 2022, are now expected to be $8 billion