Reality Bites As Wall Street’s Rate Cut Dream Disappears
Traders on the floor at the New York Stock Exchange watch Federal Reserve Chair Jerome Powell’s news conference after the Federal Reserve interest rate announcement in New York on Feb. 1, 2023. A flood of data reports since the start of February have forced Wall Street to bring its forecasts for rates closer to the Fed’s. Key among them were reports showing inflation at both the consumer and wholesale levels isn’t slowing as quickly or as smoothly as hoped. AP photo
NEW YORK — After a long staring contest between Wall Street and the Federal Reserve, investors blinked first. For months, Wall Street doubled down on…Business
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