Jerome Powell Says Interest Rates Are Coming Down. 1 No-Brainer Stock to Buy Now.

After a long wait, investors finally got the rate cut they've been looking for.The Federal Open Market Committee (FOMC) cut the Fed funds rate by 25 basis points to 4% to 4.25%, its first rate cut of the year. In comments addressing the move, Federal Reserve Chair Jerome Powell explained that the downside risk in the labor market had grown, meaning the rate cut was done to help support the job market, in line with the central bank's stated goal of maximum employment.But the rate cut, which was widely anticipated, wasn't the only news. The Fed also got more dovish with its future forecast. According to the "dot plot" projections, the committee expects two more rate cuts this year, calling for one more than it did in June, its last projection. It expects another rate cut next year and sees the Fed funds rate settling at 3% over the long term. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool