Goldman, JP Morgan see Fed cutting 50 bps in Jan
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A sputtering job market has convinced economists at key U.S. investment banks that the Federal Reserve will need to resort to a steeper half-percentage point interest rate cut when it meets later this month.
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The U.S. Federal Reserve on Tuesday slashed benchmark U.S. interest rates by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence.
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Wall Street stocks edged higher on Wednesday after DuPont's earnings outlook cheered investors but as Goldman Sachs (NYSE:GS) forecast the US economy would fall into recession this year and MBIA (NYSE:MBI), a bond insurer, slashed its dividend.
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Three regional Federal Reserve banks wanted a deeper half-percentage-point cut in the discount rate ahead of December's Fed policy meeting, minutes of the Fed Board's discount rate meetings showed on Tuesday.
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U.S. blue-chip stocks ended lower on  Wednesday as Honeywell International Inc. HON.N and J.P.  Morgan Chase & Co. JPM.N disappointed investors with  quarterly reports, while oil prices lurching back to $55 a  barrel rekindled worries about corporate energy costs.
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Goldman Sachs, Lehman Brothers, Merrill Lynch and other banks have been telling investors the market for these securities is frozen â and so is their cash.
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Stocks fell on Tuesday after Federal Reserve Chairman Ben Bernanke warned inflation is still a major concern, all but dashing remaining hopes for an interest-rate cut this year.
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The bad news just keeps pouring in for mutual fund manager Janus Capital Group (NYSE: JNS). Yesterday, the Denver-based firm reported that European banker ING Group (NYSE: ING) will pull $5 billion from its mutual funds, or ...
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Wall Street stocks were set for a flat start on Wednesday after Goldman Sachs (NYSE:GS) forecast the US economy would fall into recession this year and MBIA (NYSE:MBI), a bond insurer, slashed its dividend and issued new debt to held maintain its credit rating.
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Goldman Sachs on Wednesday said it expects the U.S. economy to drop into recession this year, prompting the Federal Reserve to slash benchmark lending rates to 2.5 percent by the third quarter.
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This week, we find out what the Federal Reserve was thinking when it cut interest rates by a whopping 1.25 percentage points in January -- and how leaders of the central bank expect the economy to do this year and beyond. The Fed will release minutes of its Jan. 21 emergency videoconference and J...
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The US Federal Reserve surprises markets by cutting interest rates by 50 basis points to 4.75%.
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Stock futures eased on Thursday, suggesting Wall Street shares may pare some of the previous day's gains as investors await word on the outlook for monetary policy from Federal Reserve Chairman Ben Bernanke.
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JP Morgan Chase &amp; Co. (JPM) plans to buy a majority stake in the hedge fund Highbridge Capital Management, the companies said on Monday, a sign that Wall Street is seeking a bigger role in the rapidly growing hedge-fund industry.
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Â· Pound falls as news swirls around money marketsÂ· US Fed poised to cut rates amid global liquidity crisis
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The Federal Reserve is unlikely to cut  interest rates before its next scheduled meeting in late  January but may consider doing so if the outlook deteriorates  sharply before then, the Wall Street Journal reported on  Monday.
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The UKâs oldest independent stockbroker was today being linked to a deal involving the sale of a 50% stake to US bank JP Morgan Chase.