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Rates hold steady as the Federal Reserve “thinks about” lowering interest rates
The Federal Reserve held interest rates stable, giving the impression that it was considering whether to decrease them, but not that soon.
Investors in interest-rate futures markets have been placing bets on the central bank cutting rates at its upcoming meeting on March 19–20, with odds of about 50% during the majority of January. The 10-year Treasury note’s yields dropped 0.091 percentage points to settle at 3.965% following the announcement of a loss and a dividend cut by New York Community Bancorp, which caused further concerns about the state of local lenders. Many analysts had predicted a year ago that the Fed would need to hike rates to generate enough slack, in the form of idle factories and jobless workers, to limit inflation dramatically.
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