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Business Rundown: The Fed's Big Rate Cut & A Looming Supply Chain Snafu
Manage episode 440947950 series 3330134
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This week the Federal Reserve cut interest rates by half a percentage point, the first and biggest cut since the pandemic began to batter the US economy in March of 2020. Fed Chair Powell isn’t saying “mission accomplished” just yet, but he stressed that the progress on inflation has been encouraging.
The large rate cut brought a big rally in the stock market on Thursday, yet ongoing discussions of recession possibilities and a slowing job market have many still viewing this economy cautiously.
And a supply chain crisis looms in America due to a string of labor disputes when it comes to America’s ports, planes, and automobiles.
FOX Business correspondent Gerri Willis breaks all of this down with Partner and Chief Market Strategist at Slatestone Wealth, Kenny Polcari.
Photo Credit: AP
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