Reported 20 days ago
The Federal Reserve made its first interest rate cut since 2020, reducing rates by 0.5% and signaling additional cuts may follow. Despite initial gains, stock markets closed lower as investors reacted cautiously to the news, indicating a general belief that the economy is stable but leading to uncertainties about future rate changes. Federal Reserve Chair Jerome Powell emphasized the health of the labor market and inflation management while addressing concerns over the timing of the cuts ahead of upcoming elections.
Source: YAHOO