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Federal Reserve signals support for rate rise this year and fewer cuts in 2024. US stock market sees slowest pace of share buybacks since early pandemic. Gideon Rachman's three-part podcast series on Bidenomics. Discussion on impact of share buybacks on share prices and company profits. Controversy surrounding share buybacks and their future. American economic policy and global implications of Biden administration's measures.
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Quick takeaways
- The Federal Reserve signals support for another rate rise in 2021, but fewer cuts in 2024, reflecting evolving data and risks.
- Corporate buybacks in the US have significantly decreased, potentially impacting stock prices and widening the gap between large and small companies.
Deep dives
Federal Reserve pauses interest rate rises
The Federal Reserve has decided to hit the pause button on interest rate rises due to evolving data and risks. However, Chair Jay Powell stated that they are prepared to raise rates further if inflation remains high. The Fed projected one more rate increase before year-end and fewer rate cuts in the coming years. The announcement caused the S&P 500 to fall and the two-year US treasury yield to reach a 17-year high.
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