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.