On Tuesday, traders will be watching as some big names – including Pepsi, Citigroup, Wells Fargo and Delta Airlines – are set to announce 3Q earnings later in the week.
Vice Chair Lael Brainard on Monday reiterated the U.S. central bank's plan to continue tightening monetary policy until there is clear evidence that inflation has slowed down, warning the U.S. economy will likely slow further as a result of elevated interest rates.
Brainard – the Fed's No. 2 and a permanent voting member of the Federal Open Market Committee – said during prepared remarks delivered before the National Association for Business Economics in Chicago that the economy is likely to cool over the next year as rates remain elevated. There is a growing expectation on Wall Street that the Federal Reserve will trigger an economic downturn as it raises interest rates at the fastest pace in three decades to catch up with runaway inflation.
Police vehicles outside of the Courtyard by Marriott seen on Wednesday, October 5, 2022, where a Paul Kutz was shot and killed on Sunday. Speaking to CNBC’s Julianna Tatelbaum at the JPM Techstars conference in London, Dimon said U.S. consumers would be in better shape this time around than the 2008 global financial crisis but the current factors contributing to a recession were still a cause for concern.
Dimon’s comments came after the September jobs report, released last Friday, showed that businesses kept hiring at a brisk pace, unemployment fell back to a half-century low and average pay rose.
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