Stock market updates, Fed decision

U.S. stocks were steady ahead of the Federal Reserve’s decision on interest rates. The majority of market participants or about 60%, are expecting policymakers to cut rates by 50 basis points at 2pm ET time today.

Chairman Jerome Powell, in his 2:30 press conference, will signal more on what’s ahead for future rate cuts and the general health of the overall economy which has been clouded by persistent inflation.

​

Bitcoin is hovering just below $60,000 after gaining over 120% from its 52-week low of $26,240.89 hit on September 27, 2023.

Support of crypto currencies
have become a hot election issue with former President Trump recently launching his World Liberty Financial.

However, the feedback on that venture is murky.

At the end of the Federal Reserve’s two-day meeting Wednesday policymakers are expected to pull the trigger, cutting interest rates for the first time since March 2020.

The move will pave the way for a new era of policy that will impact millions of everyday Americans and what they pay for personal loans, mortgages, credit cards and other lending options.

Senator Elizabeth Warren (D) Massachusetts slammed Fed officials for putting the economy at risk ahead of their long anticipated interest rate cut expected Wednesday. A move many say is late to the party.

​