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- Daily Scoop 22-11-2
Daily Scoop 22-11-2
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Today's Scoop:Deflated
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Big Picture
Interest rates are going up.
Policymakers might take it easier on the economy soon.
The jobs market is still pretty strong.
The Market:
⬇️
-2.5%
S&P 500: 3,759.69
1Mo:
+2%
| 1Yr:
-19%
| 5Yr:
+45%
The market tumbled lower today after investors digested the Federal Reserve's policy changes.
The Federal Reserve raised baseline interest rates by 0.75%,
bringing the floor for short-term interest rates to roughly 4%.
This year has been the fastest the Fed has ever raised interest rates.
It's trying to slow borrowing and spending and decrease inflation as quickly as possible. It's what sent mortgage rates surging and home prices tumbling.
There was an important change in the Fed's policy language at this meeting.
Policymakers acknowledged how much they've already restricted the economy and hinted at a slower pace of interest rate hikes,
perhaps nearing the end. Removing some uncertainty around economic policy will help investors, businesses, and consumers prepare for what's ahead.
The jobs market is still looking pretty strong, despite the economic restrictions
. A survey from payroll provider ADP reported a more considerable increase in private-sector hiring in October than economists expected.
Company Scoops ❤🌎💰
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Airbnb's
-
Electronic Arts
-
Match
-
Nio
-
CVS
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🤓 Inside Scoop...
The
Federal Reserve
, aka the
Central Bank,
aka The Fed, is in charge of our whole money system. When the economy is struggling, the Fed lowers baseline
interest rates
to make it cheaper for consumers and businesses to borrow and spend. The Fed also pumps more money into the system by buying bonds with new dollars that it essentially speaks into existence. The additional cash keeps the pipes flowing as the borrowing and spending heat up, stimulating economic activity. Once the economy's strong enough to stand on its own, the Fed starts to raise interest rates and pull back some of that money to ensure the economy doesn't overheat.
Inflation
is the Fed's heat gauge, and we're definitely looking hot right now. The Fed will keep restricting the economy until inflation cools off. Everyone's hoping inflation will cool before the Fed restricts the economy into
recession
.
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