YTD so far these many weeks markets were up (Bull picture shown), down (Bear picture), or draw (Bull/Bear picture) …
Bulls (Markets UP) =22…
Bears (DOWN) = 16… and Draw = 0
The DOW slipped 648 points for the week
As expected the Feds left key interest rates unchanged
On Friday the Fed Chair of the Federal Reserve, Mr. Jerome Powell, announced that it would keep the interest rate unchanged. The Feds have raised the interest rates a total of 11 times in a short 12-month period. The Fed chair mentioned that the Fed will keep the interest rates elevated until it is convinced that inflation will reach the target of 2%.
The pace of inflation has been on a decline for the last few months from its peak in June of 2022 at 9.1%. The Federal Reserve Bank remains determined to address aggressively to tamper the economy and the rising inflation to its dual mandate of inflation around 2.0-2.5% and full employment.
Fed Funds Rate (overnight lending between banks from reserves)
The Fed Funds rate range is 5.00-5.25%
.
Discount Rate (Feds charge member banks to borrow for reserves)
The discount rate is 5.25%
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