Fed Officials' Musings on Rates Spur Market Jump
With fear of a self-induced US recession gripping Wall Street, any news is good news these days. So it can't be too surprising that stocks spiked in frenzied trading Thursday after a few Federal Reserve officials publicly mused about possibly cutting interest rates in the near future.
Federal Reserve Bank of Cleveland President Beth Hammack told CNBC the central bank could move as early as June if it has clear evidence of the economy's direction. Federal Reserve Governor Christopher Waller similarly said he'd support rate cuts if President Donald Trump's tariffs start pushing Americans out of work.
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