What was said:
Fed chairman Powell...has announced
the long awaited rate cut....Will come by September:
According to powell the timing and module of cuts will "depend on incoming data," that is to say it would be based on the coming markets trend and response...
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The impact on market trend
This was seen as a good omen as the market quickly moved to fully price in four rate cuts of 0.25% today being Friday after the Fed chair said the central bank has "ample room" to maneuver as policy enters its next phase.
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