23rd June 2021 Morning Report

Federal Reserve Chair Jerome Powell on Tuesday reaffirmed that the Federal Reserve intent to support a “broad and inclusive” recovery of the job market and will not increase interest rates too quickly because of the fear of the possible onset of inflation. He said they would keep a watch on a broad set of labour market statistics, including how different racial and other groups are faring, in setting upcoming monetary policy.

Recent job growth, meanwhile, has been slower than hoped, with some of Powell’s colleagues now openly suggesting the pandemic prompted so many people to retire it may be unrealistic to think the economy can return to the pre-crisis level of employment before the Fed needs to tighten monetary policy.

The Nasdaq closed 0.8% higher setting anew record close and the S&P rose 0.5% after a wobbly session and the Dow Jones Industrial Average was marginally up. 

Bitcoin dipped below 30,000 a 30% drop but has recovered to $32,600 this morning. 

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

October 14th Morning Report
October 13th Morning Report
October 9th Morning Report
October 7th Morning Report
October 6th Morning Report
October 3rd Morning Report
October 2nd Morning Report
October 1st Morning Report
September 30th Morning Report
September 29th Morning Report