Interest Rates Off the Table? Wall Street Traders React Abruptly to Powell’s Surprise Announcement
New York, NY – The financial markets in Wall Street experienced a brief surge followed by a sudden downturn after Federal Reserve Chair Jerome Powell expressed uncertainty regarding future interest rate hikes despite inflation concerns. Initial excitement over the possibility of no immediate rate hikes evaporated quickly as Powell failed to signal an impending rate cut this year, dampening investor sentiment and causing a reversal in stock prices. Powell emphasized the cautious approach of central …