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Stock impact report

U.S. Bank Stocks Rally After Fed Cuts Interest Rates by 50Bps [Yahoo! Finance]

First Foundation Inc. (FFWM) 
Last first foundation inc. earnings: 4/22 05:00 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ff-inc.com
Company Research Source: Yahoo! Finance
investors who expect this move to boost the profitability of Wall Street giants and smaller regional lenders. On Wednesday, the Fed Chairman, Jerome Powell, remarked the U.S. economy is "in good shape." He pointed out that risks of further cooling in the labor market have risen. With this, the central bank cut the interest rates by 50 basis points, bringing the Fed fund rates to the 4.75-5% range. This marks the end of an era of aggressive interest rate hikes intended to curb persistent inflation. The central bank also indicated two more rate cuts this year, which will bring the Fed funds rate down to 4.4% in 2024. Investors see this rate cut as a big support to the economy with the expectation of a soft landing, where the Fed's aggressive tightening cycle ends with inflation falling to the 2% target without a significant downturn in the economy. The U.S. Stock Markets React Positively to Jumbo Rate Cut The Fed interest rate cut leads to a rally in the U.S. stock market, wit Show less Read more
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