Powell Signals Easing Next Month
U.S. equities finished mostly higher for the week as investors cheered rising expectations for a September rate cut. Speaking Friday from Jackson Hole, Wyoming, Fed Chairman Powell signaled the central bank could begin easing monetary policy next month. According to the CMEs FedWatch tool, expectations for a quarter-point September rate cut jumped to over 85% from about 75% before Powell’s speech. The S&P 500 surged over 1.5% on Friday, breaking a five-day losing streak (its longest since January).
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