The Fed probably won’t cut rates in March. Here’s what that means for markets
CNN
Stocks just raced past a milestone level, even as investors grapple with interest rate cuts coming later than expected.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Stocks just raced past a milestone level, even as investors grapple with interest rate cuts likely coming later than expected. Federal Reserve Chair Jerome Powell in January indicated that the central bank is unlikely to start paring rates in March, with the gangbusters January jobs report all but cementing that no cut is happening next month. Investors now expect that the Fed will begin easing back rates in May or June, according to the CME FedWatch Tool. Stocks fell initially as investors mulled over Powell’s comments. But all three major indexes still gained in January, and the benchmark S&P 500 index on Friday closed above the 5,000 level for the first time. So, what does the Fed’s hawkish signal mean for investors?
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