2024-01-03 14:57:20
The Dow Jones Index fell nearly 200 points today after Thomas Barkin, president of the Federal Reserve Bank of Richmond, signaled a move to raise interest rates. Even though inflation has slowed down
As of 9:48 p.m. Thai time, the Dow Jones Industrial Average was at 37,522.62 points, down 192.42 points or 0.51%.
Mr. Barkin expressed his confidence that The US economy will not face a recession. But it will slow down gradually. or soft landing
However, Mr. Barkin said The Fed still has the option to raise interest rates. Despite progress in slowing inflation
Mr. Barkin stated that There remains a risk that the Fed’s mission to stem inflation may not be over.
“Long-term interest rates have fallen recently. and will stimulate demand in the real estate sector which is sensitive to interest rates Strong demand will not solve the problem of inflation that is above target. This makes further interest rate increases still an option for the Fed,” Barkin said.
In addition, the market was also pressured by the rebound in US bond yields. and the fall of Apple stocks
Investors are keeping an eye on the minutes from the Federal Reserve’s (FOMC) monetary policy meeting on Dec. 12-13, which will be released today. Including US labor market data this week. To find signs indicating the direction of the Federal Reserve’s interest rates this year.
The U.S. will release job openings and labor turnover (JOLTS) numbers later today, while ADP’s private sector jobs figures and weekly jobless claims will be released on Thursday. While on Friday there will be numbers on non-agricultural employment.
Analysts predict that Non-agricultural employment increased by only 163,000 jobs in December. After adding 199,000 jobs in November Moreover, the unemployment rate is expected to increase to 3.8% in December from 3.7% in November.
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