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Stock market today: S&P 500 falls as Powell signals careful rate-cut path ahead

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Stock market today: S&P 500 falls as Powell signals careful rate-cut path ahead

Investing.com-- The S&P 500 fell Thursday as Federal Reserve Chair Jerome Powell signaled that the Fed doesn't need to be in hurry to cut rates and could take a careful approach to monetary policy easing.Federal Reserve Chairman Jerome Powell said Thursday that economy isn't signalling a need for speed on rate cuts as the recent strength allows the Fed to take a careful approach to monetary policy decisions.

For the month, the measure came in at 0.2%, accelerating from an upwardly-adjusted 0.1% in September and in line with projections. “The PPI report broadly backs up CPI in terms of a slowing in progress on underlying inflationary pressures. For now, though, the outlook for core PCE is soft enough to keep the Fed on track for another rate cut in December," said Kyle Chapman, FX Markets Analyst at Ballinger Group.

 

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