Market Review and Trends
Top Stock Market Highlights of the Week: US Federal Reserve, Keppel Corporation and Southeast Asian Gross Merchandise Value
By The Smart Investor  •  June 24, 2023
Here are this week’s top stock market highlights. US Federal Reserve Investors breathed a sigh of relief when the US Federal Reserve (“Fed”) declared that interest rates will stay stagnant at its latest meeting. Prior to the Fed’s announcement, interest rates had been hiked 10 times in a row without a pause, bringing the rate to the current range of between 5% and 5.25%. That said, Fed chairman Jerome Powell has warned that more rate increases are on the horizon and are “necessary”. Holding rates steady at this month’s meeting was simply a move to slow the speed at which interest rates rose, but is by no means an indication that no further hikes were needed. The US central bank will digest incoming economic data before deciding on its next move, but most policymakers see at least two more quarter-point increases before the end of 2023. However, Powell faced questioning from the US...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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