Stocks were mixed at the open but Wall Street was heading for a losing week as investors digested the hints that the Federal Reserve could raise rates before the end of the year.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.