‘We’re losing life’: Safety of Culebra Road causing concerns with recent vehicle-pedestrian accidentsSan Antonio’s plan to lower CPS Energy rate hikes could be ditched before plan is ever used
Because the Fed's half-percentage point rate cut was so well telegraphed and because markets had already climbed so much in anticipation, Wall Street’s reactions to the 180-degree turn on its policy rate were relatively muted. On Wednesday, the S&P 500 slipped 0.3%, closing at 5,618.26. The Dow Jones Industrial Average dipped 0.2% to 41,503.10. The Nasdaq composite lost 0.3% to 17,573.30.
Some critics say the Federal Reserve may have already kept interest rates too high for too long, but Powell said that “We don’t think we’re behind.” Like stock prices, Treasury yields wavered up and down repeatedly immediately after the Fed announced its cut and published its projections.
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