Wall Street Traders Rush for Exit After Fed’s Rate-Cut Shift
- Stocks, Treasuries plunged after Fed hinted at less 2025 cuts
- Dollar soared to the highest since 2022, sending peers sliding
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Almost exactly one year after sparking a furious rally in financial markets, Federal Reserve Chair Jerome Powell did the exact opposite on Wednesday, staking out a cautious view on interest-rate cuts in 2025 that stunned investors.
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