Jan
31
DealBook Briefing: The Fed’s Reversal Soothes Wall St.
By
Jerome Powell, the Federal Reserve chairman.CreditCreditJim Lo Scalzo/EPA, via Shutterstock
A surprise shift from the Federal Reserve
In a sharp reversal of the stance it took just week ago, the Fed’s chairman, Jerome Powell, said yesterday it had “the luxury of patience” in deciding whether to raise rates again, writes the NYT’s Binyamin Appelbaum.
The news: The Fed left its benchmark interest rate unchanged, a decision that was widely expected. What surprised markets was the indication that rates, which are in a range of 2.25 percent to 2.5 percent, would stay put for some time…
DealBook Briefing: The Fed’s Reversal Soothes Wall St.
