Breaking: Fed Cuts the interest rate by 50 bps \ stacker news ~econ

Let's see what happens now!!

Dow jumps 300 points after Fed cuts rates by a half point

Stocks climbed Wednesday midday as investors cheered the Federal Reserve’s decision to cut interest rates by a half point.

The Dow rose 303 points, or 0.7%. The S&P 500 gained 0.7% and the Nasdaq Composite added 0.9%.

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42 sats \ 0 replies \ @Golu 18 Sep

I don't know how to phrase it? Is it a good news or bad news. The market will tell.

40 sats \ 0 replies \ @IamSINGLE OP 18 Sep

Fed officials see the US unemployment rate rising to 4.4% this year — and cooling inflation

The US unemployment rate has risen substantially this year so far. At the start of the year, the unemployment rate was 3.7%. By July, it had jumped to 4.3%, the highest unemployment rate the nation has seen since fall 2021. Last month, it edged down slightly to 4.2%, but Federal Reserve officials don’t think will drop any more.

Instead, they see the unemployment rate hitting 4.4% by the end of this year, according to median forecasts included in the Summary of Economic Projections.

32 sats \ 0 replies \ @nitter 18 Sep bot

https://xcancel.com/TheNationalNews/status/1836465773709246610

32 sats \ 2 replies \ @grayruby 18 Sep

Surprised they did 50 basis points. I know that's kind of what the market was expecting but I thought they would ease in with 25.

21 sats \ 1 reply \ @teemupleb 15h

The next FOMC meeting is in November right after the election, so they didn’t want to wait until then especially if the economic conditions were worsening leading up to November.

And lowering by 50 bps in November would have been seen as political, so that was out of the question for them.

0 sats \ 0 replies \ @Bell_curve 14h

Cutting rates after the election would be less political

31 sats \ 0 replies \ @Coinsreporter 18 Sep

Not surprised after Elizabeth Warren wrote that love letter to Powell to cut it for 75 bps.

20 sats \ 0 replies \ @Cje95 18 Sep

Andddd the stock market "surged" up a whole 200 point before giving back half of it less than 10 minutes later... smh this economy is so fucked

12 sats \ 1 reply \ @Bee_Aye 23h

20 sats \ 0 replies \ @TheBTCManual 16h

🤣🤣🤣

11 sats \ 0 replies \ @SatsMate 20h

A short flash in the pan action. Crazy how it shot up that fast that quickly, and settled down to trading sideways pretty quickly.

Powell really impacts the traders in the market!

21 sats \ 0 replies \ @TheBTCManual 16h

Lol as if asset prices weren't already high, they're about to get a lot higher!

As if consumer inflation wasn't already high, they're about to get a lot higher

Jumbo-sized rate cut: Fed slashes rates by a half percentage point

Dow jumps 300 points after Fed cuts rates by a half point