Discussion on global economy and financial markets - Page 52

50 basis points cut announced!!!

SUMMARY OF FED DECISION (18 September 2024):

1. Fed cuts interest rates by 50 bps for first time since 2020

2. Fed sees 2 more 25 basis point rate cuts in 2024

3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut

4. Fed gained "greater confidence" that inflation is moving to 2%

5. Fed will "carefully asses incoming data" and evolve outlook

6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026

Compare this to the Ambani wedding...

https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-

Dow closes lower, giving up 375-point pop after big Fed rate cut:

Stocks closed lower Wednesday in a volatile session as the Federal Reserve lowered interest rates in a half-percentage-point move. The outsized rate cut was cheered initially by traders, though it did raise concerns the Fed was trying to get ahead of potential economic weakness.

Billionaire hedge fund manager John Paulson says he’ll yank his money from market if Kamala Harris wins election

https://x.com/MarioNawfal/status/1836203232328134753?t=S0li_DNdHB87a0Kyty_Y-w&s=19

World is moving into the Indian era

https://m.economictimes.com/tech/information-tech/world-is-moving-into-the-indian-era-says-salesforce-ceo/articleshow/113465465.cms

US ports strike from tonight:

A dockworkers strike with huge US supply chain implications is set to start at midnight tonight

• 36 ports

• 45,000 workers

• 60% of US shipping traffic

• $5 billion in economic damage *per day*

Freight costs for businesses have already gone up 20% ahead of the stoppage...

https://x.com/HolyCitySinner/status/1840947242330370457?t=hgaHMC1m28uZomk5oSY9FA&s=19

Oracle cloud facility in Malaysia very soon

https://x.com/ReutersAsia/status/1841297222933029062?t=sU9G1Lr9K8vg_H8lfOlugg&s=19

This will be a bad news for markets. To add to the woes, crude oil jumping is another headache.

https://www.theguardian.com/world/live/2024/oct/01/israel-lebanon-attacks-live-blog-ground-offensive-hezbollah-hamas-gaza-war

Originally posted by: mishkil88

This will be a bad news for markets. To add to the woes, crude oil jumping is another headache.

https://www.theguardian.com/world/live/2024/oct/01/israel-lebanon-attacks-live-blog-ground-offensive-hezbollah-hamas-gaza-war

It was inevitable. It was only a matter of time.