For now, the Fed sees no reason to intervene, despite rising inflation and strong economic growth prospects. The umbrella of central banks in the United States will support the country’s economy for as long as it requires. The outlook has improved in part thanks to previous Congressional action. But according to the Fed, it will be some time before there is more substantial progress.
Thus, the bank’s umbrella is waiting to raise interest rates until the moment that requirements in areas such as inflation and employment are clearly met. No interest rate move is expected until 2023. After this message, leading indices in New York have recovered from their previous losses. The Dow Jones index ultimately won by 0.6 percent to 33,015.37 points. The Standard & Poor’s 500 Index rose 0.3 percent to 3,974.12 points, and the technology Nasdaq index rose 0.4 percent to 13,525.20 points.
Disney Entertainment Group rose 1 percent in companies. The company will reopen its theme parks in California. The gates of the theme parks will open on April 30, although not yet completed. Morgan Stanley won by 1.3 percent. Wealthy bank clients may have access to bitcoin money.
Uber, the company behind the taxi app of the same name, gives its drivers in Great Britain more rights and guarantees them a minimum wage. Analysts believe this may be at the cost of Uber’s earnings, and the stock fell 4.3 percent.
Amazon will offer a healthcare service that will allow its employees to visit the doctor remotely to other companies. This is already happening on a small scale near its home base in Seattle, but Amazon plans to introduce service to more companies this summer. Amazon shares rose 0.7 percent.
The euro was worth $ 1.1980, compared to $ 1.1896 when European stock markets closed earlier in the day. The price of a barrel of US oil is 0.3% lower at $ 64.60. Brent is 0.5% cheaper at $ 68.03 a barrel.