Source: Shanghai Securities News
In the early morning of September 19, Beijing time, the Federal Reserve lowered the target range for the federal funds rate by 50 basis points to a level between 4.75% and 5.00%. This is the first time the Fed has cut interest rates since March 2020. The commissioners voted 11-1 to approve the interest rate decision.
The latest dot plot shows that the median expectations for the federal funds rate from 2024 to 2026 are 4.4%, 3.4%, and 2.9%, respectively, compared to 5.1%, 4.1%, and 3.1% in June.
After the Federal Reserve's interest rate decision was announced, U.S. stocks extended gains, with the Nasdaq up more than 1%, the S&P 500 up 0.72%, and the Dow up 0.74%. Since then, U.S. stocks have been volatile. The Dow Jones rose higher and then rose again.
Spot gold rose rapidly, as of press time, at $2,595.305 an ounce, continuing to hit a record high.
Author: Chen Jiayi