Powell gives the green light to an interest rate cut

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The S&P 500 reached a new milestone high on Wednesday breaking above 3000 for the first time ever as Fed Chair Jerome Powell provided a clear case for cutting interest rates later this month during his testimony before Congress. The robust jobs numbers last Friday were not enough to scale back these bets. The US central bank sees the uncertainty around trade tensions as a key factor to lowering rates. That’s because businesses are holding back on new investments, keeping prices low, and are reluctant to increase salaries.

If these factors persist for a longer time, it will seriously… Read More:

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