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Business

A steady, but less nervous Fed

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Opening sequence

Business

A steady, but less nervous Fed

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COMING UP:A steady, but less nervous Fed

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Transcript

00:00:00
>> I'm very clear Brexit does mean Brexit.>> The Brexit vote has come and gone, and the global financial market has quickly rebounded. The mighty US shopper is in full bloom, and the American jobs market is back on the upswing. Yet the Federal Reserve announcing Wednesday, this economy is powering ahead, but not to the point where policy makers need to slow it down by raising interest rates.
00:00:23
At least, that's the view for now, says Reuters Fed watcher, Jonathan Spicer.>> I was looking at reading this statement, and I thought this is a very unusual thing for the Federal Reserve to so specifically analyze specific jobs reports. And I think what they were doing was acknowledging that they maybe jumped the gun a little bit in June with this overcautious statement in June.
00:00:46
And so if we get a few more good pieces of data in the next month and a half, we could get a move sooner than later.>> But don't go rushing out to lock in a mortgage to avoid higher interest rates. There are parts of the economy that still suggest there may only be one rate hike this year, even if the labor market stays strong.
00:01:04
Business investment remains lackluster, and inflation remains stuck below the Feds preferred 2% rate. Experts say despite what the Feds says, without inflation heating up significantly, Fed chief Janet Yellen may still lack the nerve to give the okay to a rate hike.