The Fed cut rates by 25 basis points to counter slowing growth and the trade war, saying 'moderate' action is enough for now. Oil rose 0.7% to about $64.
US futures fell while European and Asian equities rose on Thursday after the Federal Reserve trimmed interest rates to counter slowing global growth and the US-China trade war. Fed Chair Jerome Powell cut the benchmark rate by 25 basis points to between 1.75% and 2%, but disappointed some investors by adding that"moderate" policy moves should be sufficient for now. "If the economy does turn down, then a more extensive sequence of rate cuts could be appropriate," Powell said.
US futures fell while European and Asian equities rose on Thursday after the Federal Reserve trimmed interest rates to counter slowing global growth and the US-China trade war. Fed Chair Jerome Powell cut the benchmark rate by 25 basis points to between 1.75% and 2%, but disappointed some investors by adding that"moderate" policy moves should be sufficient for now. "If the economy does turn down, then a more extensive sequence of rate cuts could be appropriate," Powell said.
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