NOT FOR REPRINT
Stocks Rally as Powell Fuels Bets on September Cut
By
Janet Levaux
News July 31, 2024 at 03:03 PM
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What You Need To Know
- The S&P 500 climbed 2%. Treasury 10-year yields declined four basis points to 4.1%. The dollar fell.
- Policymakers made several adjustments to the language of a statement released after their two-day meeting in Washington.
- In a press conference, Powell said the economy is moving closer to the point at which it will be approppriate to cut rates.
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