Jay Powell has indicated that the Federal Reserve is embracing a cautious approach, maintaining high borrowing costs longer than expected, causing significant market reactions.
The recent quarter-point rate cut has had a profound impact on the markets, leading to the S&P 500's worst Fed-day sell-off since 2001 and a notable surge in the VIX index.
With fewer expected rate cuts on the horizon, traders and economists are reassessing their forecasts, leading to a shift in expectations regarding the economic outlook.
Economic uncertainties paired with Trump's incoming administration raise concerns about how high interest rates and a strong dollar could affect his policies.
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