Altrice Investment Co. Limited – Federal Reserve Decision and Earnings Season Continues
The Federal Open Market Committee (FOMC) will deliver its policy decision at 2 p.m. Wednesday, and many are expecting the central bank to cut short-term interest rates for the first time in over a decade, even as recent data pointed to a strong U.S
"We expect the FOMC to cut its target rates by 25bp at the July meeting, lowering the target range for the federal funds rate to 2.00-2.25%,"
Though a 25 basis point cut is what most economists expect, some have still not ruled out the possibility of a 50 basis point cut. "We maintain our call for a cut 50 bps on communication, not data. The June FOMC shifted our Fed view a lot, Altrice continued. "Chair Powell clearly wants to cut rates; in public comments, he and the core of the FOMC have ignored or downplayed strong data and highlighted weak data."
Even though the GDP data released Friday was stronger-than-
Meanwhile, the biggest companies reporting earnings tomorrow include Credit Suisse, Dine Brands, Fiat Chrysler, General Electric, Humana, Molson Coors, Spotify before market open; plus Qualcomm, The Cheesecake Factory, and Twilio after market close.
"Our ambitions keep us ahead of our competitors, and our research, service and results keep our clients in a position of financial security."
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Altrice Investment Co. Limited