Posted 9/18/2023, 1:54:21 PM

UAW Strike Drags On as Fed Holds Rates Steady Amid Earnings Reports

Fed FOMC meeting this week, expected to hold interest rates steady
UAW rejects latest proposal from Stellantis, strike against Detroit automakers continues
UAW holding out for 36% raise, automakers offered 20-21%
Labor unions pushing back after decades of declining membership
Writers Guild & actor strikes ongoing in Hollywood
White House sending negotiators to Detroit to end auto strike
FedEx, KB Home reporting earnings this week
IPOs coming from Instacart and Klaviyo
Major indices down in premarket trading

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Relevant topic timeline:

9/15/2023

Fed Likely to Hold Rates Steady Despite High Inflation, But Mounting Risks Could Impact Outlook

Traders and investors are betting that the Federal Reserve will hold interest rates steady at its September meeting, indicating a shift in the market's interpretation of good economic news, as it suggests the Fed may be close to pausing its rate hike cycle despite inflation being above target levels and potential headwinds in the economy.

9/15/2023

Stocks Fall on UAW Strike, Oil Hits $90, Fed Meeting Looms

The UAW strike, rise in oil prices, strong dollar, and upcoming Federal Reserve meeting are factors impacting the economy, causing stocks to be lower.

9/16/2023

Gas Prices and Auto Strikes Squeeze US Consumers as Fed Weighs Rate Hikes

Gas prices have been rising in the US due to drilling restrictions imposed by OPEC, with California having the highest prices; automotive workers in the US, represented by the UAW union, have initiated a large-scale strike against General Motors, Ford, and Stellantis; President Biden believes that auto companies haven't fairly shared their record profits with workers; Senator Sanders supports the strike as a fight for better conditions for the working class; the Federal Reserve will meet to discuss interest rate changes, with the current rate standing at 5.33 percent.

9/18/2023

Stocks Flat Ahead of Fed Interest Rate Decision

US stocks remain steady as investors anticipate the Federal Reserve's interest rate decision and closely watch negotiations in the US auto workers strike.

9/19/2023

Fed Meeting Seen as Non-Event for Markets as Data Shows Inflation Cooling and Growth Slowing to Sustainable Pace

The upcoming U.S. Federal Reserve meeting is generating less attention than usual, indicating that the Fed's job of pursuing maximum employment and price stability is seen as successful, with labor market data and inflation trends supporting this view.

9/19/2023

Fed Expected to Hold Rates Steady But Offer Clues on Future Hikes at Meeting

The Federal Reserve's upcoming meeting will focus on the central bank's expectations for key indicators such as interest rates, GDP, inflation, and unemployment, while many economists believe that the Fed may signal a pause in its rate-hiking cycle but maintain the possibility of future rate increases.

9/20/2023

Fed Holds Rates Steady But Signals Slower Hikes Ahead as Economy Strengthens, Inflation Persists

The Federal Reserve left interest rates unchanged while revising its forecasts for economic growth, unemployment, and inflation, indicating a "higher for longer" stance on interest rates and potentially only one more rate hike this year. The Fed aims to achieve a soft landing for the economy and believes it can withstand higher rates, but external complications such as rising oil prices and an auto strike could influence future decisions.