Stock Market Update
06-Sep-24 11:30 ET
Fed Governor Waller advocates for front-loading cuts, if appropriate
Dow -325.56
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[BRIEFING.COM] The major indices continue to languish near intraday lows.
A short time ago, Fed Governor Christopher Waller (FOMC voter) said "I was a big advocate of front-loading rate hikes when inflation accelerated in 2022, and I will be an advocate of front-loading rate cuts if that is appropriate."
The fed funds futures market now sees just a 27% probability of a 50 basis points rate at the September 17-18 FOMC meeting, down from 41% ahead of the jobs report, according to the CME FedWatch Tool.
