Stocks Rise as Federal Reserve Rates Expected to be Cut | EWTN News Nightly

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The chairman of the Federal Reserve says "The time has come for policy to adjust. The direction of travel is clear and the timing and pace of rate cuts will depend on incoming data, involving outlook and the balance of risks." In response to Powell's comments, stocks immediately climbed higher with the expectation of rate cuts. Powell did not indicate when the rate cuts would begin or how large they would be. He added that his confidence has grown that inflation can get back to 2%. Economics Research Fellow with the Mercatus Center at George Mason University, Patrick Horan, joins to share his reaction to the news that the Fed appears set to reduce its key interest rate and what this could mean for the US economy. Horan discusses how a rate cut would impact consumers and if it is cut by a quarter percent, whether that's enough to make an impact. ------------ EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf