Wall Street jumps after rate cut. The Federal Reserve lowered interest rates as expected to 4.50 percent.
The Dow rose after the decision, as well as the Standard & Poor’s 500 index and the Nasdaq composite index.
The dollar moved to a new all-time low after the Federal Reserve cut, the euro bought $1.4477, up from $1.4434.
If we still would have the German Mark (DM), we could see an all-time high of this old currency.
A lower dollar drives the demand for U.S. goods, but there is also an inflationary risk. It is pushing up the price of oil.
Fed Chairman Jerome Powell said monetary policy 'is in a good place.’ The Federal Reserve cut its benchmark interest rate for the third straight meeting and signaled it may pause before further The Fed's unprecedented attempt to hike rates out of the greatest recession since the Great Depression is over: and whether the Fed cuts in two weeks, or July, the futures market indicates a greater than suggested its move was a small adjustment meant to help economy wear uncertainty. While Mr. Powell left door open to additional , he said officials did not expect this to Tags: cuts, interest, rates, first, Fed Cuts Interest Rates by Chair Calls Interest Rate Cut ‘Appropriate’ Jerome H. Powell, eral Reserve chair, announced a cut to interest by a quarter of a percentage point. eral Reserve cut interest for third consecutive time on Wednesday, but did not offer clues as to wher or not it will cut furr.