Wall St indexes end lower after Powell erodes hopes for December rate cut
Fri, Nov 15, 2024 9:13 AM

Wall St indexes end lower after Powell erodes hopes for December rate cut

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Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy. Powell said at a Dallas Fed event that with the economy still growing, the job market solid and inflation still above the 2% target.

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