- Ballestas Group
FED Indicates Willingness to Slow Down Hikes
Updated: Nov 28, 2022
The minutes of the Federal Reserve's Open Committee, released Wednesday, suggest that it will be appropriate "soon" to slow the pace of rate hikes. This puts the FED Funds Rate between 3.75% and 4%, after the Fed's decision to raise the rate by 75 basis points at the beginning of the month, its highest level since 2008. With 97% of S&P 500 companies reporting results, earnings season doesn't appear to be as bad as expected, though the disparity across industries is worth noting. In this quiet week due to the Thanksgiving holiday, it stands out that John Deere (DE) beat estimates for both revenue and earnings per share. Due to this, after the report, its shares appeared a growth close to 6%.