Bullet points of CNBC Daily Open: Markets seemed taken aback by the 50-point cut
Bullet points of CNBC Daily Open: Markets seemed taken aback by the 50-point cut
- Federal Reserve Chairman Jerome Powell announced a 50-point cut, reducing the federal funds rate to 4.75%-5%.
- Markets initially reacted positively but later declined.
- The rate cut will influence global assets and central bank decisions.
- A CNBC survey indicates Vice President Kamala Harris is seen as more likely to win the next presidential election compared to Donald Trump.
- Gold may benefit from the rate cut.
- Powell's reassurances aim to address concerns about the economy and justify the larger-than-expected cut.
- Federal Reserve Chairman Jerome Powell announced a 50-point cut, reducing the federal funds rate to 4.75%-5%.
- Markets initially reacted positively but later declined.
- The rate cut will influence global assets and central bank decisions.
- A CNBC survey indicates Vice President Kamala Harris is seen as more likely to win the next presidential election compared to Donald Trump.
- Gold may benefit from the rate cut.
- Powell's reassurances aim to address concerns about the economy and justify the larger-than-expected cut.