Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

Different Approach

By Karina Hernandez, Senior Research Analyst
11/28/2023 1:08 PM

This morning, two Federal Reserve governors gave different approaches about getting inflation down in speeches which reflected the division in the central banks.

Fed’s Bowman said she still expects the Fed to raise further to bring inflation down “to our 2% target in a timely way.”

But Fed’s Waller said he is becoming more confident the Fed is done raising interest rates. He said, "I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2%." 

Waller’s comments proved to be a positive catalyst to sentiment and the indices reversed higher.

Nine sectors are displaying gains this afternoon with Energy holding the lead. WTI is up 2.75% today to $76.91, ahead of the OPEC + producers online ministerial meeting Thursday to discuss the 2024 production targets.

On the economic front, November’s Consumer Confidence came in at 102 vs. consensus of 101. However, the results from last month were revised downward to the lowest level since 2021.



Log In To Add Your Comment

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.