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Dow Ekes Out Gains Without Rate Cut as Defiant Powell Defends His Job

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By CCN Markets: The Dow Jones Industrial Average was meandering in and out of positive territory as investors digested a fascinating Federal Reserve meeting. In the end, stocks managed to hold onto gains, with the Dow closing at 26,504, up fractionally. By keeping rates on hold, Chairman Jerome Powell faced his first-ever dissenter. St. Louis Fed President James Bullard voted for a rate cut. Could the Fed chair’s job be at risk? Dow Fails to Rally The lack of direction in the Dow was likely due to the fact that the Fed was split down the middle over its interest

The post Dow Ekes Out Gains Without Rate Cut as Defiant Powell Defends His Job appeared first on CCN Markets

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* First published on ccn.com

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