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Rate-sensitive stocks plummeted on Wednesday after the Federal Reserve scaled back its forecast for future interest rate cuts and projected inflation would run hotter than previously expected next year.

In a year marked by three consecutive rate cuts totaling 100 basis points, Federal Reserve Chair Jerome Powell said the Fed is shifting gears to a more cautious stance heading into 2025 as interest rates move tantalizingly close to a neutral environment for the economy. Following the latest 25-basis-point reduction announced Wednesday, the federal funds rate now sits at 4.25%-4.5%, the lowest since January 2023. “We’re significantly closer to neutral,” Powell said during the post-meeting press c

Steve Burns: Stocks are in the ‘greatest bubble in the history of civilization.’ He blames the Fed.

The president-elect’s inaugural fund donors range from CEOs like Sam Altman and Ken Griffin, to Meta, Amazon, Bank of America and Goldman Sachs.

The move would bring the two struggling car companies together in a bid to reclaim market share from rising domestic brands in China, the world’s largest car market.

Jefferies initiated a "buy" rating on Rocket Pharmaceuticals, based on the biotech firm's experimental gene therapies.

Zach Jecklin of Echo Global Logistics discusses the importance of providing good service through difficult freight markets, Echo’s strategy to leverage AI and how technology can help maintain relationships without eliminating human oversight. The post Focus on relationships is the key to navigating market downturns appeared first on FreightWaves.