Wall Street jumps after Powell's signal... The global economy awaits a wave of interest rate cuts.

Arab Sea Newspaper - Special

Wall Street jumps after Powell's signal... The global economy awaits a wave of interest rate cuts New York - Bahar Alarab Wall Street recorded a record jump on Thursday, with the Dow Jones Industrial Average rising by more than 850 points in one of the strongest sessions since the beginning of the year, supported by statements by the Chairman of the US Federal Reserve, Jerome Powell, who hinted at the possibility of cutting interest rates in the coming months. Global markets picked up this signal as a "reassurance" from the world's largest central bank, which was immediately reflected in the movement of stocks and futures trading, while the dollar fell against most major currencies, amid expectations that oil and gold will witness sharp fluctuations in the coming weeks. Analysts believe that this jump is not just a financial rebound, but an expression of a global thirst for liquidity in light of an looming economic recession, which makes the decisions of the US Federal Reserve a "political and economic key" that transcends the borders of the United States to the world as a whole.