US EditionWall Street closes higher as Powell hints at Fed rate cut
Federal Reserve Chair Jerome Powell's dovish signals sparked a 1.9% Dow gain, with traders pricing an 83% chance of a September rate cut to support the labor market.
- Federal Reserve Chair Jerome Powell suggested that interest rates may be cut during the September meeting, influenced by the tightening labor market and inflation risks, according to CNBC.
- Stock markets surged after Powell's remarks, with the Dow rising 1.89%, reaching a record closing high.
- President Donald Trump has pressured Powell to lower rates, criticizing him for delaying action and calling him a 'numbskull' for his inaction.
- Economic analysts suggest that increasing risks in the job market may prompt the Federal Reserve to adjust its policy stance soon.
107 Articles
107 Articles
After several days of noticeable nervousness, stock markets rallied sharply over the weekend on Powell's hints that the Fed will start cutting rates this year. However, it's hard to ignore how AI stocks, especially Palantir, fell in the first half of the week.
Southern Utah teen rings opening bell at New York Stock Exchange through Make-A-Wish
PAROWAN, Utah It was quite the celebration Monday at the New York Stock Exchange. Raucous applause and cheers rang out as the Make-A-Wish Foundation granted the wish of Utah's own Cade Hulet from Parowan.The national nonprofit says they were surprised at what he wanted not a trip to Disney or to meet a sports legend, but visiting Wall Street."When Cade first made his wish to ring the bell at the New York Stock Exchange, he shared that he had a s…
Jerome Powell, president of the Federal Reserve (Fed), predicted a September interest rate cut: Wall Street reacts positively
Powell’s Dovish Tone Sparks Wall Street Rally, S&P 500 Rebounds From Losing Streak
The financial world was abuzz on Friday as Federal Reserve Chair Jerome Powell hinted at a potential interest rate cut in September, sparking a significant rally on Wall Street.
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