The record
Written from the 1 report below. Nothing here is unsourced.
- The US Federal Reserve, chaired by Kevin Warsh, kept interest rates unchanged at 3.5%-3.75% on July 29 after a two-day meeting, the fourth consecutive hold, defying investor expectations of a cut.
- US stock markets fell sharply in response, with the Dow Jones down 2.19% to 51,594, the Nasdaq down 1.74% to 24,443, and the S&P 500 down 1.52% to 7,316.
- The report notes inflation in the US has stayed above the Fed's 2% target for over five years, and three officials had proposed a 0.25% rate hike.
- The dollar index slipped below 101, 30-year bond yields crossed 5.2% (highest since 2007), and Brent crude hit $90 per barrel amid Middle East tensions, raising renewed inflation risks.
What to watch next
- Direction of the Fed's next policy decision after four consecutive holds
- Whether inflation moves back toward the Fed's 2% target
- Impact of rising crude oil prices and bond yields on global markets
Coverage1
1 report
Indian-language1
All filed from India
Named United States · Dow Jones · Middle East · Nasdaq · S&P 500 · Donald Trump · Kevin Warsh · US Federal Reserve
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.