Stocks gain, dollar sags as Fed chief shores up rate cut prospects

LONDON - World stocks rose, global bond yields fell and the dollar weakened after Federal Reserve Chairman Jerome Powell bolstered expectations the Fed would cut U.S. interest rates soon.

“Powell’s statement confirmed we are going in the direction of a cutting cycle,” said Charles Zerah, a fund manager at Carmignac. “The main question now is, are investors pricing too much in terms of rate cuts by year end? The way you see equity markets behaving, risk is that what markets are pricing could lead to disappointment.”

“Given we are in the longest expansion and have only had rates lifted to 2.5%, for me it begs the question, is a soft landing possible?” The rate cut prospects also weighed on the dollar. The dollar index against a basket of six major currencies slipped 0.2% to 96.929, extending losses for a second straight session after reaching a three-week peak on Tuesday.

Fraudulent investors, fraudulent Fed.

Sags? Lol. How do you expect us to relate that.

Why is he cutting rates if the economy is good?

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