Fed rate cut possibility has moved from if to when to how much, says Ajay Bagga

August 26, 2024

Market expert Ajay Bagga noted that Fed Chairman Jerome Powell reassured the market by signaling readiness to cut rates due to labor market concerns. With rate cuts almost certain by September, bond yields dropped, stocks rose, the dollar weakened, and gold prices increased. This was expected amid the substantial fiscal deficit buffering economic errors.

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