Gold hits a record high, tops $3,000
Gold (GC=F) prices hit a new high, briefly surpassing $3,000 for the first time. Market Domination hosts Julie Hyman and Myles Udland break down the commodity's moves.
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Lennar earnings, retail sales, Fed meeting: What to Watch
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The case for the Fed holding interest rates at June meeting
Federal Reserve officials will be convening in Washington, D.C, next week for their June FOMC meeting, starting on Tuesday and concluding on Wednesday with a press conference with US central bank's Chair Jerome Powell. Yahoo Finance senior reporter Allie Canal explains how investors will be listening closely for whether the Fed will cut interest rates at this meeting. Inflation and the lasting price pressures from President Trump's tariffs continue to weigh on consumers. Also watch Yahoo Finance's Jennifer Schonberger outline what to expect from next week's Fed meeting and the Trump administration's commentary around the central bank. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. The Federal Reserve is expected to hold rates steady at next week's policy meeting, although nearly 70% of investors now believe cuts could come by September, and some are even betting on July. Still, uncertainty remains, especially around the scope of President Trump's tariffs, which continue to ripple through markets. Some duties have been paused, but many remain in place, and we still don't have a firm deal with China, which is one of our largest trading partners. All of that complicates the Fed's outlook, and we did have the chance to speak about this with Wall Street watchers this week, including a former Fed president. Take a listen. The high level of uncertainty still is with us. And that, I think, is why the Fed is on hold until some of that, we get a little more clarity about not only the magnitude of the tariffs and the breadth of the tariffs, but what effect they'll have on inflation and what effect the tariffs and other policies, including the, the budget bill, will have on growth and employment. The Fed is going to stay on the sidelines, which means we're kind of in this wait and see time period, and that's where I don't think the Fed likely cuts until September, unless you see significant weakening in the labor market. And then the question is always, is it too late or not? The benign version of rate cuts, I think, will take time to develop because the Fed will want to have confidence that, number one, prices aren't rising in a kind of uncontrolled fashion, and at the same time, you know, the Fed will be monitoring the activity signals in the economy as well. So, for now, the general consensus is that the Fed is staying cautious, encouraged by the data, but waiting for clearer signs before making any significant moves. And we'll be watching closely for what comes out of the updated dot plot as well, which will give us more of a sense into how the central bank is thinking about future interest rate cuts.
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What to expect from the Fed's June FOMC meeting next week
Federal Reserve officials will be convening in Washington, D.C, next week for their June FOMC meeting, starting on Tuesday and concluding on Wednesday with a decision on interest rates and a press conference with the US central bank's Chair Jerome Powell. Yahoo Finance senior Fed reporter Jennifer Schonberger outlines what to expect from next week's Fed meeting, including what the dot plot may signal about interest rate cut forecasts for 2025. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. The Federal Reserve likely to hold interest rates steady at next week's June meeting, but we are expected to get an updated dot plot on Wednesday. For more on what to expect from that upcoming Fed meeting, let's welcome in Yahoo Finances Jennifer Schonberger. Hey Jen, how are you? What, what are we looking for? Hey Julie, I mean, has it been six weeks already? Because I feel like I just blinked, and here we are, another Fed meeting. The Fed are widely expected to hold interest rates steady next week, but investors are going to have their eye on something else. Whether policymakers retain expectations for two interest rate cuts this year. And many Fed watchers expect the Fed will stick with two cuts as they weigh so many unknowns, from whether tariffs will push up prices or push down growth, to geopolitical risks. Former Kansas City Fed President Esther George told me, given just how fluid things are at the moment, she predicts that they'll be reluctant to signal changes from where they were earlier. She says they don't want to shake markets and cause people to think that things are going to be tighter for longer. President Trump, of course, has been hammering the Fed and Fed Chair J. Powell to speed up the timetable for any rate cuts, most recently citing milder inflation. But Powell and many of his fellow policymakers have made it clear in recent weeks that they're still more worried about the risks of higher prices from Trump's tariffs than any risk in unemployment as they weigh both sides of their dual mandate. Adding to that, the impact of Israel's strike on Iran, and whether a protracted war could lead to higher oil prices and inflation this summer. Fed not Fed watchers note that the job market, although it has been cooling, isn't showing any cracks, with the unemployment rate holding steady at 4.2%, a historical low, while wages are growing at nearly 4%. Investors currently betting that the Fed is not going to cut rates until September, but many I talked to say the Fed ought to leave the door open for a rate cut in July, lest they box themselves in like they did last summer, where they took July off the table during the June meeting, only to find themselves having to cut by 50 basis points in September. Julie? Yes, and Fed critics will always say that they're too late or too early, so we'll see what happens this time. There's always an opinion, right? There is. Thanks, Jen.
