The Fed’s Goolsby says he was “confused” by the market’s reaction last week

The Fed’s Goolsby says he was “confused” by the market’s reaction last week

A Federal Reserve official said Monday that the market may have misunderstood the central bank’s intended message last week after stocks and bonds rose sharply.

The Federal Reserve voted last week to keep interest rates steady again, and its updated forecasts showed an expectation of three rate cuts in 2024. That sent stocks and bonds soaring, with the Dow Jones Industrial Average jumping to a record high.

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