Stocks jump to session highs in afternoon trade as Fed's Williams says it 'pays to act' quickly to lower rates

U.S. stocks bounced higher Thursday afternoon, with the equity benchmarks climbing to session highs after New York Fed President John Williams said that the central bank should act quickly at the first sign of trouble in the economy. "When you have only so much stimulus at your disposal, it pays to act quickly to lower rates at the first sign of economic distress," Williams said, in a speech at a research conference in New York.

50%, and the market is starting to increase bets that policy makers may cut rates by as much as half-a-percentage point rather than a more conventional 25 basis point rate cut. As the president of the New York Fed, Williams has a standing vote on the rate-setting Federal Open Market Committee. The Dow Jones Industrial Average DJIA, -0.02% was trading flat at 27,232, but trading in positive territory, while the S&P 500 index SPX, +0.27% was trading 0.

There are many people in our country of your religion and dont think like you or act like you. I know them and you are an disappointed to them and our country

Canny funny this. Stocks rise cos Williams sez rate cut as the economy is cattled. You couldn't make it up.

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Source: MarketWatch - 🏆 3. / 97 Read more »