Fed Begins Pivot Toward Lowering Rates as Inflation Declines.

Federal Reserve Chair Jerome Powell has indicated a shift in the central bank's stance on interest rates, moving away from raising rates and towards considering rate cuts. This change comes as inflation has slowed, prompting concerns about the potential harm of keeping rates too high. Powell's comments and projections of three rate cuts next year mark a significant reversal from previous statements about raising rates to combat inflation. The stock market responded positively to the news, with all three major indexes climbing. [Extracted from the article]