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For the past three months, markets have sniffed out September rate cuts and responded accordingly. The key is whether the Fed's future course of action on rates can offset the economic deceleration that its hiking campaign was designed to engineer.
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The Fed's decision to cut interest rates by 50 basis points reflects its growing confidence in taming inflation and a renewed focus on supporting the job market.
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Dow pops 500 points as Wall Street rallies a day after big Fed rate cut: Live updates CNBCStocks surge a day after Federal Reserve's first interest rate cut since 2020 CBS NewsStock market today: Dow, S&P 500, Nasdaq surge as Fed fires up rally Yahoo FinanceRate Cuts: Markets Got Powell's Message — Smaller for Longer Bloomberg
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