This year, macroeconomic and geopolitical headwinds have fostered heightened volatility in the stock market. Fed staff economists warned that the chances of a recession in the next year had increased…
to almost 50% on slowing consumer spending, global economic risks, and more interest rate hikes.
However, inflation cooled more than expected in October as the Consumer Price Index (CPI) rose 7.7% from a year earlier. Therefore, a “substantial majority” of policymakers at the Fed’s meeting earlier this month agreed that it would “likely soon be appropriate” to slow the pace of rate hikes.
“A slower pace would better allow the Federal Open Market Committee to assess progress toward its goals of maximum employment and price stability,” according to the FOMC minutes released on Wednesday.
According to Ned Davis Research, following October’s favorable CPI report, chances of a “goldilocks” scenario have increased in which the Fed tames inflation and avoids a recession. Also, Nobel economist Paul Krugman believes that a soft landing of the economy is increasingly likely.
CSX Corporation (CSX)
CSX provides rail-based freight transportation services. The company offers rail and intermodal transportation services through a network of approximately 30 terminals and other transportation services, such as rail-to-truck transfers and bulk commodity operations. The company operates a rail network of nearly 19,500 route miles.
On October 6, the company’s Board of Directors approved…
Continue reading at STOCKNEWS.com