- Fca and Psa (Peugeot-Citroën) confirm the contacts for a possible merger
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30 October 2019The Federal Reserve, as expected, cuts interest rates by 0.25 percentage points in the range of 1.50% to 1.75%. This is the third intervention in this sense, after that of the end of July. This was announced by the Fomc monetary policy committee, the operational arm of the Fed.The Fed's monetary policy committee considers "more likely" that US expansion continues at a "sustained" pace, that "robust" labor market conditions remain and that inflation
arrive at the 2% target, "but uncertainties remain on this prospect" and for this will assess "the appropriate path" for interest rates.
Nevertheless, the Fomc writes in its statement that the US economy is still "growing at a moderate pace". It should be noted that Boston Fed President Eric Rosengren and Kansas City Fed Chairman Esther George are expressing a vote against the new rate cut that confirmed for the third row session in disagreement with President Jerome Powell.
Wary markets
In the waiting day, before the announcement of the Fed, Milan closes in negative territory. The Ftse Mib index marks -0.15% touching 22.646,08 points.
Fca flies to Piazza Affari. The car manufacturer led by Mike Manley confirmed advanced talks with Peugeot with a view to a merger. If the operation goes through, a giant car with a value of 45 billion euros would be created.