It was not until 1977 that the index recaptured the 100 level before hitting 200 in 1985.
The Fed chairman said that, with the US jobs market remaining healthy and consumer spending staying steady, the central bank's"baseline outlook is for economic growth to remain solid." "Moreover, a number of government policy issues have yet to be resolved, including trade developments, the federal debt ceiling and Brexit."Edward Moya, senior market analyst at the New York office of the foreign exchange broker OANDA, said:"Markets are convinced that the Fed will deliver a 25-basis point rate cut this month… the prepared testimony release has expectations running high for Powell to go full dove today.
"There was no mistaking the dovish tone in Powell's testimony. He had the opportunity to push back on rate cut expectations and he didn't take it, instead building expectations of further cuts across the year." Meanwhile, there are many people who see no reason why the Fed should be cutting rates at a time when the US has the lowest level of unemployment for more than 40 years, inflation is benign and the economy is still growing, despite the trade war Mr Trump has launched against China.
Four more years please.
The fed is socialism for the rich paid by the poor
Making America great again! FourMoreYears
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