Wall Street Traders Go All-In on Great Monetary Pivot of 2024
- Stocks, bonds and currencies all surge post-Fed meeting
- Markets embrace soft-landing scenario as Fed eyes rate cuts
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After clashing in recent years, Wall Street traders and the Federal Reserve are – for once – broadly in sync: The great monetary pivot is near as central bankers engineer a once-unthinkable soft landing in the world’s largest economy.
That’s the big-picture takeaway after the Fed gave its clearest signal yet that its historic policy tightening campaign is over by projecting more aggressive interest-rate cuts in 2024 – in the process igniting one of the biggest post-meeting rallies in recent memory.