HomeMarket NewsDow Jones falls 200 points amidst Fed uncertainties even as Hassett hints at a rate cut
While the street has more or less priced in a rate cut from the US Federal Reserve this week, White House National Economic Council Director and potential successor to Jerome Powell, Kevin Hassett hinted at a rate cut in an interview to CNBC on Monday.
Benchmark indices on Wall Street had a quiet, rangebound session that finished in negative territory on Monday ahead of the US Federal Reserve’s interest rate decision on Wednesday.
The Dow Jones fell 200 points on Monday, the S&P 500 fell 0.35%, while the Nasdaq closed just below the flat line. The US Dollar index is back above the mark of 99, while bond yields fell to 4.17% on the 10-year note.
While the street has more or less priced in a rate cut from the US Federal Reserve this week, White House National Economic Council Director and potential successor to Jerome Powell, Kevin Hassett hinted at a rate cut in an interview to CNBC on Monday.
Hassett went on to say that Chair Jerome Powell has done a good job