but offered mixed signs on what the move meant for future monetary policy.
Stocks had initially edged lower after the Fed announced at 1800 GMT that it planned a 25 basis point interest rate cut. "Let me be clear. I said it's not the beginning of a long series of rate cuts. I didn't say it's just one or anything like that," Powell said. "The bottom line is the market is concerned we might not be getting as many rate cuts as they thought."
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