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BREAKING: The Fed left interest rates unchanged and signaled it would keep them on hold through 2020 bloom.bg/38tRQsk
MORE:
✅ First unanimous vote since May
✅ Left target range for the federal funds rate at 1.5% to 1.75% after three straight cuts
✅Repeated in its statement that economic activity has been rising at a “moderate’’ rate with “solid’’ job gains

bloom.bg/38tRQsk
Market reaction to the Fed decision is muted bloom.bg/38tRQsk
MORE: Just 4 Fed officials project rate hikes in 2020 now, but several still see hikes as being appropriate in 2021 and 2022, according to the latest dot plot.

The latest on today's decision ➡️bloom.bg/38tRQsk
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Bloomberg Economics
@economics
BREAKING: U.S. adds 128,000 jobs in October, well surpassing expectations of 85,000 bloom.bg/2qfmm7j
MORE: Today's beat also comes despite a 41,600 decline in auto payrolls because of the GM strike and 20,000 temporary census workers leaving their jobs bloom.bg/2qfmm7j
MORE:
⬆️ Revisions added 95,000 jobs for the prior 2 months
⬆️ Jobless rate rises slightly to 3.6%
⬆️ Average hourly earnings climb 3% from year earlier

bloom.bg/2qfmm7j
Read 6 tweets
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Bloomberg Economics
@economics
THREAD 1/ What happened in the world economy this week – in charts (via @DoubleTGolle & @zschneeweiss) bloom.bg/2o4lJN2
2/ Germany’s manufacturing meltdown is pulling Europe’s largest economy closer to a recession bloom.bg/2o4lJN2
3/ New-home sales in the U.S. rebounded at a faster pace than forecast in August, thanks to mortgage rates that are hovering just above the lowest level in nearly 3 years bloom.bg/2o4lJN2
Read 7 tweets
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Bloomberg Economics
@economics
THREAD: It’s been a decade since Fed traders jumped into U.S. money markets to inject cash and keep short-term interest rates (repo rate) from rising.

Confused? It's ok. Even traders were left scratching their heads.

Here’s exactly where things stand➡️bloom.bg/2lXlCSt
Before we start:

➡️Repo rate = Cost to borrow short-term cash (often overnight) in money markets, which is secured by collateral

➡️Money markets = Where traders can lend & borrow cash for short amounts of time. That’s different from the capital markets (bonds and stock markets)
On Tuesday, the NY Fed injected $53 billion into the money markets to push the repo rate down. Rates had spiked as high as 10%.

On Wednesday, after that repo rate started to move up again, the NY Fed injected $75 billion to the money markets bloom.bg/2lXXU8v
Read 10 tweets

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