ASX 200 LIVE: Shares to fall as Wall Street cools off from record highs

Shares poised to decline as New York retreats; oil rises; Apollo’s Slok sees rising chance Fed will hold rates in November. Follow here for more.

Federal Reserve Bank of Minneapolis President Neel Kashkari repeated that he favors reducing interest rates at a slower pace in the coming quarters. Kashkari, speaking Monday at an event in Wisconsin, said he supported the larger-than-normal rate cut that policymakers delivered last month, but indicated he sees smaller cuts at future meetings.

“Right now I am forecasting some more modest cuts over the next several quarters to get to something around neutral, but it’s going to depend on the data,” Kashkari said, referring to the level at which rates would neither stimulate nor restrict the economy. To move more rapidly, he said, he’d need to see “real evidence that the labor market is weakening quickly.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FinancialReview /  🏆 2. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX 200 LIVE: ASX rises; energy and mining stocks sinkShares open higher as techs rallied strongly in New York; Oil falls sharply; RBNZ poised to slash its key rate. Follow updates here.
Read more »

ASX 200 LIVE: ASX dips as banks and supermarkets sink; BHP ralliesShares fall; Iron ore spikes on China rate cut; Light & Wonder dives after losing in Nevada; Cettire releases audited results. Follow updates here.
Read more »

ASX 200 LIVE: ASX to rise though China stimulus disappointment lingersShares are set to open higher as techs rallied strongly in New York; Oil falls sharply; RBNZ poised to slash its key rate. Follow updates here.
Read more »

ASX 200 LIVE: ASX dips as banks and supermarkets sink; BHP ralliesShares fall; Iron ore spikes on China rate cut; Light & Wonder dives after losing in Nevada; Cettire releases audited results. Follow updates here.
Read more »

ASX 200 LIVE: ASX to rise though China stimulus disappointment lingersShares are set to open higher as techs rallied strongly in New York; Oil falls sharply; RBNZ poised to slash its key rate. Follow updates here.
Read more »

ASX 200 LIVE: ASX rises; energy and mining stocks sinkShares open higher as techs rallied strongly in New York; Oil falls sharply; RBNZ poised to slash its key rate. Follow updates here.
Read more »