- Title: Fed's mixed signals on next move send Wall Street lower
- Date: 18th September 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (SEPTEMBER 18, 2019) (REUTERS) (SOUNDBITE) (English) ARGUS RESEARCH, CHIEF COMPLIANCE OFFICER & SENIOR ANALYST, KEVIN HEAL, SAYING: "I think some of the investors out there were looking for more of an aggressive stance by the Fed. They've cut 25 and the potential was that someone might look for 50. But and given the future outlook that they might not have any rate cuts going forward or in December kind of helps help the sell-off in equity more."
- Embargoed: 2nd October 2019 20:51
- Keywords: U.S. central bank sustain a decade-long economic expansion Federal Reserve quarter of a percentage point Kevin Heal interest rates Argus Research Jerome Powell cut interest rates
- Location: WASHINGTON, D.C., + NEW YORK, NEW YORK, UNITED STATES
- City: WASHINGTON, D.C., + NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA002AX6RZ2F
- Aspect Ratio: 16:9
- Story Text: The U.S. Federal Reserve on Wednesday (September 18) delivered a widely expected interest rate cut aimed at sustaining a record-long economic expansion, but gave few hints of whether or when it could reduce borrowing costs further.
The U.S. economic outlook is "favorable," with labor markets strong and inflation likely to return to the Fed's 2% inflation goal, Fed Chair Jerome Powell said in a news conference after the decision was announced.
But Fed policymakers decided to cut rates, he said, "to provide insurance against ongoing risks" including weak global growth and resurgent trade tensions.
(Produced by Aleksandra Michalska)
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