image credit: Pixabay

Rate cuts are coming — and markets are ecstatic

July 11, 2019

Stocks climbed on Thursday after Federal Reserve Chair Jerome Powell signaled the central bank would lower interest rates this month, reassuring investors who had feared robust US employment data would take a cut off the table.

“A July rate cut seems set in stone as Powell cites geopolitical uncertainties and global growth slowdown as the reasons why an easier policy will help sustain the expansion domestically,” said Konstantinos Anthis, head of research at ADSS.

Read More on Business Insider