US stock futures steady after Wall St tumbles on prospect of fewer Fed rate cuts
Investing.com-- U.S. stock index futures steadied on Wednesday evening after a sharp fall on Wall Street as the Federal Reserve lowered interest rates as expected but indicated a slower pace of easing in 2025.for the third time in a row on Wednesday but projected fewer cuts in 2025 amid sticky inflation and resilient economic growth.The Fed cut interest rates by 25 basis points at the end of its two-day meeting on Wednesday, bringing down the borrowing rate to a range of 4.25%-4.50%.
Policymakers now see the benchmark rate falling to 3.9% for next year, suggesting just two 25 bps rate cuts, compared with a prior forecast in September for four cuts.showed that inflation was still a long way from its 2% target, with the targeted metric expected to end this year at 2.4% and at 2.5% next year.
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