Fed Chair Jerome Powell Just Implemented a 'Risk Management' Rate Cut. Will This Push the S&P 500 Index to 7,000 or Is It a Sell-the-News Event?

As expected, the Federal Open Market Committee (FOMC) lowered the Federal Reserve's benchmark federal funds rate by a quarter point at its September meeting, bring the federal funds rate down inside a range of 4% to 4.25%.While the decision was not surprising, investors were more interested in other parts of the meeting. The FOMC unveiled the Fed's latest dot-plot, showing where members of the FOMC expect the federal funds rate to trend in the future, and Fed Chair Jerome Powell held his regular post-meeting press conference, during which Powell called the Fed's most recent action a "risk management cut."The stock market was certainly volatile following these events. Will this recent news push the broader benchmark S&P 500 index to 7,000 or is this a sell-the-news event?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool