The jar in this case appeared to be hopes that Fed Chairman Jerome Powell would dangle the chance of a near-term interest rate cut. Powell Dashes Rate Cut HopesAsked point-blank at his press conference Wednesday if the Fed was considering a rate cut, Powell replied, “We don’t see a strong case for moving in either direction,” adding that the Fed is comfortable with its current target range of between 2.25% and 2.5%. However, the 50% odds of a 2019 rate cut are way down from around 75% earlier this week. If that’s how the Fed sees things, it arguably makes a rate cut even less likely anytime soon. Thursday brought another slew of earnings data.

Source: Forbes May 02, 2019 13:18 UTC