- The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymakers cut interest rates by a quarter of a percentage point, as expected, but gave mixed signals about their next move.
New projections showed policymakers at the median expected rates to stay within the new range through 2020, bad news for investors hoping for additional cuts to help blunt global economic fallout from the U.S.-China trade war. “He did a very good job conveying the view that this was a mid-cycle adjustment, but that obviously the Fed is ready to act if it needs to do more,” said Mike O’Rourke, chief market strategist at JonesTrading.
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