Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
Fed Expects to Make 1 More Rate Cut Next Yr, Raises US 2026 GDP Growth Guidance to 2.3%; DJIA Gain Expands to 300 Pts
Recommend 10 Positive 10 Negative 7 |
||||
|
||||
|
The Fed made the third consecutive interest rate cut on Wednesday, lowering the federal funds overnight borrowing rate by 0.25 ppts to a range of 3.5-3.75%. Officials maintained the expectation of only one rate cut in 2026 and another in 2027, with the long-term target for the federal funds rate at around 3%, consistent with the September update, according to the bitmap. Following the rate cut announcement, the DJIA expanded its gains to approx. 300 points or 0.6%, while the Nasdaq narrowed its losses to 40 points, and the S&P 500 remained flat, as investors awaited Chairman Jerome Powell's speech at 2:30 pm Eastern Time. Meanwhile, the Federal Open Market Committee (FOMC) raised the US 2026 GDP forecast by 0.5 ppts to 2.3% from 1.8%. The FOMC expected 2026 inflation rate to drop from the September forecast of 2.6% to 2.4%, with the latest annual inflation rate for September in the US being 2.8%. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
