The Latest Breaking News from US Federal Reserve

The financial industry just got a wake-up call from one of tech's top minds. At a Federal Reserve conference in Washington last week, OpenAI CEO Sam Altman issued a blunt warning: Artificial intelligence has made it dangerously easy to impersonate someone's voice, putting billions of dollars and consumer trust at risk.

The S&P 500 Index ($SPX ) (SPY ) today is up +0.60%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.30%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.70%. September E-mini S&P futures (ESU25 ) are up +0.53%, and September E-mini Nasdaq futures...

The jobs number (nonfarm payrolls, to give its technical name) is due out tomorrow. Expect stocks to react strongly if it comes in weak.

The probability that the Federal Reserve could keep interest rates unchanged throughout 2025 surged on Wednesday following Chair Jerome Powell's latest remarks, adding fresh uncertainty to the outlook for monetary policy.

Powell put a cat among the pigeons by suggesting he was minded to "look through" tariff-induced inflation by not increasing interest rates.

September S&P 500 E-Mini futures (ESU25) are up +0.97%, and September Nasdaq 100 E-Mini futures (NQU25) are up +1.30% this morning as forecast-beating quarterly results from Meta and Microsoft boosted sentiment.

 Jamie Dimon, the CEO of JPMorgan Chase Co. (NYSE:JPM), has reportedly visited the White House twice in the past two months. This marks a significant shift in the relationship between the head of the largest American bank and President Donald Trump.

The probability the Fed cuts interest rates by 25 basis points in October is now greater than 90%.

The Fed left its key short-term interest rate unchanged for the fifth time this year, at about 4.3%, as was expected.