Category: Personal Finance

Economy and TradingPersonal Finance

Federal Reserve Signals Rate Cuts as Powell Acknowledges Shifting Economic Priorities

Federal Reserve Chair Jerome Powell delivered his clearest signal yet that rate cuts are approaching, acknowledging rising unemployment risks alongside cooling inflation. The shift in tone sparked immediate market enthusiasm, with investors anticipating potential parabolic moves in the fourth quarter.

In a significant departure from his typically cautious communication style, Federal Reserve Chair Jerome Powell delivered what markets interpreted as the strongest signal yet that monetary policy easing is on the horizon. During his Tuesday address to the National Association for Business Economics, Powell acknowledged mounting “downside risks to unemployment” while suggesting the central bank may need to move toward a more neutral policy stance.

Powell’s Pivotal Policy Shift

by Natalie Brooks
BusinessPersonal Finance

** Wells Fargo Profit Beats Estimates, Raises ROTCE Target After Asset Cap Lifted

** Wells Fargo exceeded Wall Street expectations with Q3 profit of $1.66 per share and raised its medium-term ROTCE target to 17-18%. The boost follows the Federal Reserve’s removal of the bank’s seven-year asset cap, signaling renewed growth potential for the fourth-largest U.S. lender. **CONTENT:**

Wells Fargo has topped third-quarter profit estimates and raised its key profitability target after regulators removed the bank’s seven-year asset cap, signaling a new growth phase for the institution. The San Francisco-based bank reported earnings of $1.66 per share, beating analyst expectations of $1.55 per share, while announcing an ambitious new return on tangible common equity target of 17-18%.

by Natalie Brooks