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Media Stocks, Broader Markets Rebound As Fed Forecasts Two Interest Rate Cuts In 2025
Shares rose across the board, extending gains later in the session after the Federal Reserve weighed in at the close of its two-day March meeting and the news wasn't terrible.
Markets were in dire need of some calm after a hellish month of tariff chaos that eroded trillions of dollars of value and pushed both the S&P and Nasdaq into official correction territory. Powell said the U.S. has a “balanced labor market” and that high-profile layoff of tens of thousands of federal workers by Elon Musk-led Department of Government Efficiency (DOGE) has not trickled into national stats — yet at least. After the Fed’s November meeting, Powell, in response to a question, said that he would not resign if President-elect Donald Trump asked him to and that he doesn’t think the president has the legal authority to fire him.
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