FILE - A person takes photograph an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, Feb. 22, 2024. Asian benchmarks were mostly higher on Thursday, March 21, 2024 after U.S. stocks rallied to records following the Federal Reserves indication that it expects to deliver interest rate cuts later this year. – Global benchmarks were mostly higher on Thursday after U.S. stocks rallied to records following indications from theFrance's CAC 40 rose 0.
The Federal Reserve's survey of its policy makers showed the central bank still expects to deliver three cuts to interest rates in 2024. That’s the same number as they had penciled in three months earlier, and expectations for the relief that such cuts would provide are a big reason U.S. stock prices have set records.
Fed Chair Jerome Powell said he noticed the last two months' worse-than-expected reports, but they “haven’t really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road towards 2%. That story hasn't changed.”
Source: News Formal (newsformal.com)
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