Wednesday, October 30, 2019

Market update: Federal Reserve cuts interest rates by 0.25% for the third time this year (30 Oct 2019)

3rd rate cut this year:  The Federal Reserve did exactly what was expected Wednesday by lowering its key policy interest rate one-quarter percentage point, to a range of 1.50%-1.75% and implying in the directive that it is unlikely to cut the fed funds rate again in December.
Fed Chair Powell, at his press conference, provided some dovish fodder with the suggestion that the Fed will need to see a significant move higher in inflation to raise interest rates to address such a development.
  • Nasdaq Composite +24.7% YTD
  • S&P 500 +21.1% YTD
  • Russell 2000 +17.0% YTD
  • Dow Jones Industrial Average +16.1% YTD


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