Sep 17, 2024 - Economy
Charted: Half-point expectations
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Markets from stocks to bonds to crypto have been rising in anticipation of tomorrow.
- At 2pm ET, the Fed will do what it hasn't done in over four years — actually lower interest rates. The only question left is by how much.
Expectations for a half-point cut have risen in recent days (see above).
- The S&P 500 is up over 8% from its low point in August.
- Bitcoin has been up and down since Aug. 1, from a high of $63,000 to a low of under $54,000 (hit twice), and everywhere in between.
- The yield on two-year treasury notes has fallen from 4.16% to 3.61% over the same time frame.
The big picture: Opinions are mixed on the short-term direction for markets as the Fed shifts into rate-cut mode. That will depend on whether the economy keeps on keeping on.
