Guanglong Market strategist: ‘Investors are relieved to see three cuts stay in the dot plot’

Federal Reserve chair Jerome Powell and the central blank are not faltering as inflation proves to be sticky, said David Russell, global head of market strategy at investing platform TradeStation. And he said the continued expectation for three interest rate cuts this year is also promising.

“We had some inflation bumps this year but Jerome Powell’s not blinking,” Russell said. “Investors are relieved to see three cuts stay in the dot plot, supporting markets and risk appetite.”

“The Fed might wake up with a hangover, but the punchbowl isn’t going away yet,” he said.