Expected Fed Rate Cut, Important Stock Market News from Companies and Markets
Market reviews
The Federal Reserve's 0.5% interest rate cut on Wednesday signaled the Fed's intention to protect the labor market and prevent an economic recession. At first, investors liked the decision. The S&P 500, Dow, and gold all hit new records, the Russell 2000 rose nearly 2%, and the dollar weakened across the board. The Fed decided not to upset the market and cut rates to 4.75-5%. Inflation is no longer a concern — the Fed's inflation forecast has been cut to 2.3% by the end of 2024. The main threat now remains a recession.
The Bank of England has no opportunity to...