US EditionWall Street closes higher as Powell hints at Fed rate cut
Federal Reserve Chair Jerome Powell indicated a potential interest rate cut in September due to slowing labor market growth, prompting a 915-point surge in the Dow, its largest gain since May.
- 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.
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90 Articles
US Federal Reserve Chairman Jerome Powell hinted on Friday that the central bank could cut interest rates soon, but he stressed that the decision would not be influenced by pressure from President Donald Trump.
Dow Hits Record, Bonds Jump as Powell Signals Cut: Markets Wrap
(Bloomberg) -- Stocks surged, reversing a week of losses and sending the Dow Jones Industrial Average to a record, while bond yields fell as surprisingly dovish comments by Jerome Powell convinced investors that rate cuts are all but guaranteed.
Dow leaps to new high as rate cut speculation fuels stock market rally
The stock market surged on Friday as rumors swirled about Federal Reserve Chair Jerome Powell cutting interest rates. The Dow Jones Industrial Average rose 846 points to a new record, the S&P 500 jumped 1.5%, and the Nasdaq composite rose 1.9%. Poor job numbers this month added fuel to the speculation that Powell could cut rates for the first time in months. President Donald Trump has often angrily prodded Powell to do so and threatened his job.…
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