Since markets had been expecting the rate cut scenario for weeks and weeks, it wasn’t exactly a surprise when Federal Reserve Board Chair Jerome Powell on Friday let i.
Since markets had been expecting the rate cut scenario for weeks and weeks, it wasn’t exactly a surprise when Federal Reserve Board Chair Jerome Powell on Friday let it be known that, indeed, that expectation had been correct. He advised Fed officials meeting in Jackson Hole, Wyoming that cuts in interest rates had a near future.
The idea, according to leading economists, is that such a move would help to stimulate their favorite topic: the economy. The latest data showed more jobless claims than had been expected and that, among other relevant data, is said to make a drop in interest rates appropriate and needed.Stocks, Bonds and the Dollar After Jackson Hole.
The Standard & Poor’s 500’s daily price chart looks like this:
Today’s price was unable to clear Thursday’s high price and remains below the July peak.
