Stocks: A Fed-Fueled Breakout
The stock market posted one of its best days in quite some time on Sept. 18, and we can thank the Federal Reserve for that. The Fed cut rates more aggressively than many expected, with both the Fed funds target rate and discount rate falling 50 basis points. Many times, when the Fed is in a rate cutting cycle, the stock market tends to do well. We see no difference this time.
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