US Market Rally: Will It Start Now?
@JC888:
Fed’s Blindside Curve Ball. In a “strange” turn of event, US stocks finished lower after the Fed voted to cut interest rates by -0.5%, opting for a more aggressive reduction than investors had been expecting just a week ago. Although traders had anticipated a rate cut, they had been left guessing about the size of the move. A week ago, traders were fairly confident that the Fed would cut by the traditional -0.25%. That consensus vanished in recent days, with many expecting a larger cut, but there was still a large amount of uncertainty heading into the Fed’s decision. All but one (Michelle Bowman) of the 12 Fed voters supported the cut, that brought the Fed funds rate to the newly revised range of between 4.75% & 5%. Fed Dot Plot. At the same time the FOMC confirmed interest cut, the S