The indices of Wall Street They dismiss on Wednesday with a mixed sign (Dow Jones: +0.57%; S&P 500: -0.1%; Nasdaq: -0.33%) after the last decision of the United States Federal Reserve (Fed)which, as expected, has reduced interest rates in 25 basic points (PB). It has been the first cut in the price of money in the US since December 2024. The focus of the market has been put in its projections. Now, the Fed estimates that there will be two more declines in 2025one in 2026 (less than the three waiting for the market) and another in 2027, until reaching a «neutral» type of 3% in the long term. Half dozen officials considered that the long -term rate would be below that level. Likewise, the FED has warned about the situation of the labor market, with the downward risks for increasing employment, while inflation «remains high». This involves the double mandate objectives of the agency, which aspires to achieve price stability and full employment. Similarly, the Fed has raised its projection of economic growth for the coming years, while estimating that it has maintained its inflation forecasts, an indicator that they do not see returning to the objective of 2% before 2028. In the subsequent press conference, the president Jerome Powell He has indicated that The impact of tariffs on the economy «remains uncertain» and has linked the fall of employment to the slightest immigration. However, the main holder left by the FED leader has been to define his movement as a «Risk management cut». In other words: Powell and the Fed They do not commit to this cut is part of a new cycle of monetary relaxation. «There are no risk -free paths right now. It’s not so obvious what to do.»he said. Powell has defended the Unit of the Federal Open Market Committee (FOMC) and its action when orienting the country’s monetary policy. «We have made up and down of very large types in the last five years, and one tends to do them at a time when the policy is out of place and needs to move quickly to a new direction. That is not at all what I feel now, I feel that our policy has been doing the right thing so far this year,» Powell said. In the background, the ‘strong hands’ do not lose sight of the huge political pressures so that the Central Bank goes down the interests to the rhythm that it demands Donald Trumpthat constantly threatens the independence of the organism, something that worries the market a lot. In this sense, David Kelly, Chief Global Strata in JP Morgan Asset Management, believes that it is positive that Only Stephen Miran, the member designated by Trump, will vote in favor of a greater cut of interest rates. Although the governors Christopher Waller and Michelle Bowman They could aspire to the position of president of the Fed, they were not willing to go against the consensus, he stressed in statements granted to ‘CNBC’. «For me, the fact that they do not rush to ask for a reduction of 50 bp now, even if they want more flexibility by the Fed, I think it is a very positive signal because it indicates that the Federal Reserve, as an institution, considers its independence as something extremely important and will not rush to do what the administration wants at this time,» he said. Powell, meanwhile has stressed that «We are firmly committed to maintaining our independence». «Today we welcomed a new member of the Committee, as we always do, and the Committee remains united in the achievement of our double mandate goals,» he added.
Other prominent references
Beyond the Fed, the attention of investors focuses on the Trump visit to the United Kingdomwhere different investment agreements will be signed and advances in tariff negotiations are also expected. This without losing sight of the expected called between Trump and Xi Jinpingscheduled for Friday, in which it is planned to close an agreement on Tiktok In the United States. Advances are also expected on other fronts of commercial relations between both powers. At the business level, Goal It has proposed to seduce the market with its Annual Conference for Developersto be held this Wednesday and in which the matrix of Instagram and Facebook will present its main novelties. Analysts expect progress on their smart glasses, and anticipate the launch of the model Hypernova.
Other markets
In other markets, oil Brent 0.82% falls ($ 67.91), the euro 0.38% ($ 1,182) depreciates, near 4 -year maximums against the ‘green ticket’; and the ounce of gold drops 0.83% ($ 3,694). For its part, the profitability of the 10 -year -old bonus rises to 4,074%, and the Bitcoin yields 0.57% ($ 116,019).
