Wall Street's hopes for a rate cut could start taking form as soon as next week.
 | FRI, JUN 14, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | CSCO | 54.75 | -1.42 | -2.53% | | AAPL | 192.74 | -1.41 | -0.73% | | MSFT | 132.45 | +0.13 | +0.10% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 30.36 | -1.03 | -3.28% | | BAC | 28.04 | +0.10 | +0.36% | | GE | 10.23 | -0.08 | -0.78% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 30.36 | -1.03 | -3.28% | | CSCO | 54.75 | -1.42 | -2.53% | | CMCSA | 42.31 | +0.62 | +1.49% | |
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Wall Street's hopes for a rate cut could start taking form as soon as next week. While the Federal Reserve isn't expected to make a move at its two-day meeting that starts Tuesday, the group is expected to pave the way for a July interest rate cut. Fed officials will likely downgrade their economic forecast, tweak some key language and reduce their interest rate forecasts, CNBC's Patti Domm reports. The Fed is expected to cut the word "patient" from its statement, which could signal that it is ready to move on interest rate cuts to help the U.S. economy make it through a period of slower growth and the potential impacts of trade wars.  The timing of a Fed rate cut — which would be the first in more than a decade — is very much up for debate. But markets are counting on it after May's weak jobs data and softer-than-expected consumer price inflation. Fed funds futures are now pointing to odds of about 80% for a July cut and about 20% for a June cut. President Donald Trump has been calling for a rate cut and again this week criticized Fed Chair Jerome Powell, telling ABC News the Dow would be 10,000 points higher if the Fed hadn't raised rates. Still, economists say the president's repeated assault on the Fed isn't likely to have an impact on its decision. |
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