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After 3rd Rate Cut Is Fed Pausing or Removing the Punchbowl?

Is the punchbowl being removed from the equity party? Will investors have to rely on seltzer now?

Hard to say with certainty, but it at a minimum it seems that the cover is back on the bowl. I’m referring here to an admonition from Federal Reserve Chairman Jerome Powell, who last Wednesday indicated that no more cuts were forthcoming, unless the U.S. economy slowed significantly.

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