US stocks fall after Fed cuts rates 25 basis points as expected
Markets are concerned that while inflation has fallen, it has remained sticky over the past few months
18 December 2024 - 22:01
New York — US stocks fell on Wednesday, erasing earlier gains after the Federal Reserve cut interest rates by a quarter of a percentage point and the central bank’s economic projections signalled a slower pace of cuts next year.
The Fed cut rates by 25 basis points to the 4.25%-4.50% range and its summary of economic projections indicated it will make rate cuts totalling a half percentage point by the end of 2025 given the solid labour market and the recent stall in lowering inflation...
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