From CNBC: 2024-05-03 07:48:57

of progress toward its 2% inflation goal and announced a slower pace of balance sheet reductions. Fed Chair Jerome Powell emphasized that inflation is still too high and that the next policy move is unlikely to be a rate hike. Investors rallied in response to the news, with stocks surging higher as Powell reassured that politics won’t influence rate decisions. The Fed is closely monitoring the labor market for any unexpected changes, and experts predict a possible rate cut later this year based on economic indicators. This pro-economy stance by the Fed could provide stability for markets and investors moving forward.



Read more at CNBC: Live updates on May Fed rate decision