Rebuilding After 9/11, Cantor Fitzgerald's Annual Charity, Eye on Energy Markets
On the 25th anniversary of 9/11, Bloomberg's "The Close" reflected on the attacks' impact on financial markets and featured former NY Fed President Bill Dudley discussing the current economic outlook. Dudley predicted a 90% probability of the Fed raising interest rates by a quarter percent next week, citing Chair Kevin Wirtz's hawkish stance and commitment to the 2% inflation target. He added that multiple rate hikes are likely, with markets expecting about 75 basis points in total to unwind previous easing.
A Fed rate hike would influence borrowing costs and investment decisions across the economy, potentially impacting inflation and economic growth. The discussion also highlights the ongoing debate about the Fed's response to supply-side driven inflation versus demand-driven inflation.
The episode also covers the rebuilding of Lower Manhattan, changes to the financial system post-9/11, and the resiliency efforts of firms like KBW and Cantor Fitzgerald.
FEDERAL RESERVE INTEREST RATES INFLATION 9/11 FINANCIAL MARKETS
