U.S. Federal Reserve cuts 2014 growth forecast but maintains confidence in recovery

Global Business

The U.S. Federal Reserve chair was noticeably optimistic about the country’s economic prospects, despite this year’s growth forecast being cut back because of the weakness in the first quarter. Fed Chief Janet Yellen hinted there were signs of momentum building up. CCTV’s Daniel Ryntjes reports.

US Federal Reserve cuts 2014 growth forecast but maintains confidence in recovery

US Federal Reserve cuts 2014 growth forecast but maintains confidence in recovery

US Federal Reserve chair was noticeably optimistic about the country's economic prospects. This year's growth forecast was cut back because of the weakness in the first quarter. But Janet Yellen hinted there were signs of momentum building up. Daniel Ryntjes reports.

The Fed’s latest policy announcements had U.S. stocks rising. Instead of dwelling on the U.S. central bank’s tapering of its bond purchases, investors focused more on its decision to keep low interest rates. That helped the S&P 500 climb .08% to a new record. It was the index’s fourth straight day of gains. The Nasdaq also had a stellar day, hitting its highest closing level in more than 13 years. The Dow rose more than 0.5%.
To discuss the market’s move, CCTV’s Michelle Makori is joined by John Herrmann, Rates Strategist with Mitsubishi UFJ Securities U.S.

Interview with John Herrmann on US economy

Interview with John Herrmann on US economy

John Herrmann, Rates Strategist with Mitsubishi UFJ Securities U.S. joined CCTV's discussion on today's market move.