US stocks bounced around their records Wednesday after the Federal Reserve made moves to boost the job market but warned that more help isn’t guaranteed. The S&P 500.
US stocks bounced around their records Wednesday after the Federal Reserve made moves to boost the job market but warned that more help isn’t guaranteed.
The warning hit Wall Street because many traders considered a cut in December as a near certainty, along with potentially more in 2026, and they had already driven stock prices to records in part because of it. Powell said officials had „strongly differing views about how to proceed in December.“ Even Wednesday’s decision to cut came with less authority than expected. One member of the Fed’s committee, Jeffrey Schmid, voted to keep the federal funds rate steady now instead of lowering it.
