US stocks drop as expectations of a Fed rate cut cool
WASHINGTON - US stocks fell on Nov 14, as traders digested an uptick in inflation and comments from Fed chairman Jerome Powell, which had the effect of cooling expectations of a December rate cut. Consumer and producer inflation data published this week point to a small rise in the rate of price increases, complicating the Fed’s rate-cutting plans.
The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump's economic agenda and more.
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