Reported 7 months ago
Wall Street's hopes for a rate cut were put on hold as the Federal Reserve announced projections for only one interest-rate cut in 2024, disappointing traders who were anticipating a more aggressive reduction in borrowing costs. Despite the Fed's guidance, stock indices like the S&P 500 and Nasdaq 100 remained near record highs, driven by technology shares. Traders still favored multiple rate cuts this year, but the Fed emphasized the need for more data supporting sustained inflation movement towards 2%. What followed were mixed reactions and interpretations from various investment experts regarding the Fed's decision and the economic outlook.
Source: YAHOO