REUTERS: Wall Street's main markets were set to edge lower on Thursday as the previous session's hints of a skeptical Federal Reserve attitude to a new cycle of interest rate cuts offset a handful of more bullish signs from U.S. retailers.
While markets are on course to fall this month after a two-week sell-off driven by concerns over the U.S.-China trade war and its impact on global and U.S. growth, the signals for Powell from the economy this week have been more bullish. President Trump continues to press the Fed publicly to reduce rates, but many analysts say the U.S. economy is far further away from recession than some of its European rivals or than the bond market at times in recent months has suggested."Without sounding like a broken record, the danger is most definitely that Chairman Powell disappoints ," said Jeffrey Halley, senior market analyst at online trading platform OANDA.
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