πππWall Street roared in approval today after Federal Reserve Chair Jerome Powell announced an anticipated 25 basis point rate cut.
More importantly Jerome Powell adopted a less hawkish tone than feared. This perceived doveness unleased a massive relief rally across major stock indices.
Investors rotated into risk assets, driven by hopes for easier financial conditions ahead and a clear "wait and see" approach from the Fed that calmed fears of overly restrictive monetary policy.
Hooray for Jerome Powell! He is like Santa Claus sending cheer to the markets. π₯°ππ₯°π
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