Web Trader MT5 
The Federal Reserve announced a quarter-point rate cut on Wednesday and signaled two more cuts by year-end amid growing labor market concerns despite persistent inflation. In an 11-to-1 vote , the Federal Open Market Committee lowered its benchmark rate to 4.00%-4.25%. Governor Stephen Miran was the only member favoring a half-point cut.
The Fed noted moderated economic activity, slowed job gains, and somewhat elevated inflation conditions that conflict with its dual mandate of stable prices and full employment. Powell emphasized labor market concerns at his press conference.
The dot plot expectations indicated two more cuts this year. Economic projections showed slightly faster growth than June forecasts, with unchanged unemployment and inflation outlooks.
Markets experienced volatility following the announcement. S&P 500 fell 0.08%, Nasdaq lost 0.14%, and only the Dow rose 0.5%. Despite Wednesday’s dip, the S&P 500 and Nasdaq remain up 0.2% and 0.5% for the week, potentially marking the S&P’s sixth positive week in seven and Nasdaq’s third straight weekly gain.
Gold prices jumped right after the announcement to a new record high at $3,707 before dropping to $3,645 as investors likely booked some profits following the strong uptrend movement. Silver is currently trading at $41.20 per ounce, down more than 4% from Tuesday’s highs.
The crypto market reacted positively to the news. Bitcoin rose 4% to $117,900 for the first time since late August. Ethereum also gained 4% and broke above $4,600
The Dollar index initially fell to 96.22, breaking July’s low. But quickly reversed upward and is currently around 97.25. EURUSD reached a crucial resistance level of 1.1900 before dropping to 1.1789
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