"Federal Reserve Signals No Rush for Interest Rate Cuts, Stocks Drop"
The stock market extended losses and Treasury yields fluctuated after the Federal Reserve indicated it is not in a rush to cut interest rates, leading to a reduction in the total amount of Fed easing priced for 2024. The S&P 500 trimmed its January advance, with losses in influential companies like Microsoft and Alphabet. The decision to leave the benchmark federal funds rate unchanged was unanimous, and the Fed reiterated its intention to continue reducing its balance sheet. The market has been sensitive to news on the overall supply of federal debt, and corporate highlights include Boeing's decision not to issue a financial forecast for 2024 and Biogen's decision to stop studying and selling the controversial Alzheimer's drug Aduhelm.
- Stocks Drop as Fed Signals It's in No Rush to Ease: Markets Wrap Yahoo Finance
- The Fed keeps interest rates on hold — and signals cuts aren’t coming soon CNN
- Fed eyes interest rate cuts as inflation eases The Washington Post
- Fed Meeting January 2024: Live Analysis on Interest Rates, Powell Speech Bloomberg
- Federal Reserve Isn't Quite Ready To Cut Rates; S&P 500 Falls Investor's Business Daily
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