Federal Reserve forgoes rate hike
The Federal Reserve held off on a rate hike Wednesday, falling in line with what had widely been predicted ahead of decision day. "A December rate hike is more likely," Jeremy Zirin, the chief equity strategist at UBS Wealth Management Americas, told USA Today. "The Fed doesn't want to be disruptive to the market, and it would clearly be a surprise to the market," had the hike come today.
That was what it sounded like from the Fed's announcement, too:
U.S. stocks were trading higher on Wednesday in anticipation of the Fed's policy meeting and after the Bank of Japan announced a "new framework" in a surprise decision as part of an effort to boost the economy.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
Pig kidney transplant recipient dies
Speed Read Richard Slayman has passed away two months after undergoing the historic procedure
By Peter Weber, The Week US Published
-
Putin replaces defense minister with economist
Speed Read In a surprising shake-up, Putin replaced Sergei Shoigu with civilian economist Andrei Belousov
By Peter Weber, The Week US Published
-
Today's political cartoons - May 13, 2024
Cartoons Monday's cartoons - a portrait of humanity, cool re-brand, and more
By The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published