Fed Cuts Key Rate for First Time Since 2008

Fed Cuts Key Rate for First Time Since 2008

Andrew Busa, financial planner at Adviser Investments, has the market analysis for Wednesday, July 31. Major U.S. market indexes declined, with the Dow Jones Industrial Average and NASDAQ down 1.2% and the S&P 500 falling 1.1%. A two-day meeting concluded today with the Federal Reserve cutting interest rates and ending the policy of shrinking its balance sheet. In the job sector, unemployment is still at historic lows—July’s reports showed private payroll numbers rose by 156,000, higher than the expected 150,000.

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