Wall Street Does U-Turn on Dec. Rate Cut
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In late September, Fed Chair Powell delivered a speech in Rhode Island, where he was questioned about the variables the Fed's Board of Governors considers when making monetary policy decisions. In particular, he was asked if movements in the stock market factor into the central bank's decision-making process.
Asian shares rose on Thursday, taking their cue from Wall Street, where a winning streak extended to a fourth straight day. U.S. futures were nearly unchanged while oil prices declined. Japan’s Nikkei 225 added 1% to 50,
The odds of another interest rate cut from the Federal Reserve have climbed rapidly as officials open the runway toward another reduction.
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between US dollar and South Korean won, top center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea on Nov 26. (AP)