Attention was on the Federal Reserve leaders Thursday as the day included six speeches from Fed officials. James Bullard, Jeffery Lacker, Charles Evans, William Dudley, Stanley Fischer and Janet Yellen all gave speeches providing further insight on the Fed’s next move.
The general consensus from all of the day’s speeches was that a rate hike in December is likely. U.S. market indexes were down for the day with the Standard & Poor's 500 falling 1.38%. The Dow Jones Industrial Average was also down, falling 1.42% led by losses from Caterpillar (CAT, Financial), Exxon (XOM, Financial) and Chevron (CVX, Financial).
In a media clip from Reuters, Dudley discussed his thoughts on a December rate hike. In his speech on Thursday at the Economic Club of New York, the New York Fed president and FOMC voting member reported that further delays in a federal funds rate increase could heighten risks for an economic hard landing.
