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The Federal Reserve's half a percentage point interest rate cut could have shaken markets had it exasperated investor fears that the central bank was preparing for an economic slowdown.
Instead, Fed Chair Powell appears to have convinced investors the central bank is cutting rates to keep the economy on track, not to save it. Stocks surged Thursday following Powell's press conference after the rate cut decision.
"Chair Powell had one job at his post-FOMC press conference today: convince market...
>>> Read more: The Fed just convinced markets it's not behind the curve
Instead, Fed Chair Powell appears to have convinced investors the central bank is cutting rates to keep the economy on track, not to save it. Stocks surged Thursday following Powell's press conference after the rate cut decision.
"Chair Powell had one job at his post-FOMC press conference today: convince market...
>>> Read more: The Fed just convinced markets it's not behind the curve
