Stocks Inch Higher as Fed Leaves Rates Unchanged [The New York Times]
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Source: The New York Times
Stocks Inch Higher as Fed Leaves Rates Unchanged - The New York Times Stocks edged higher Wednesday, after the Federal Reserve Investors in recent weeks had become increasingly certain that the central bank would reduce rates later this year in order to counter stronger economic headwinds related to the trade war. That view has been fueling a stock market rally On Wednesday, the stock benchmark rose slightly shortly after the release of a statement from the Fed’s rate-setting committee, the Federal Open Market Committee, at 2 p.m. Defensive sectors such as care and utility stocks, es that hold up well during periods of weak economic growth, delivered the day’s best gains. The broad index of blue-chip American companies is approaching a new high, and has been climbing since early June, when the Federal Reserve chair, Jerome H. Powell, first indicated that the central bank would act to sustain the economic expansion if President Trump’s trade war weakened the economy. Its previous peak
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