The Latest Breaking News from Jerome Powell

The US Federal Reserve is widely expected to cut interest rates by a quarter point Thursday, looking beyond the election results to continue easing borrowing costs on the back of cooling inflation.

The removal of election uncertainty unleashed a powerful rally in equity markets.

“It could be used to boost up the legacy of one president, only to destroy the economy in the future,” said Jamie Cox, managing partner at Harris Financial Group.

Asian markets fluctuated Tuesday as traders jockeyed for position a day before results from the US presidential election rolled in, with opinion polls showing the vote on a knife-edge as the two candidates wrapped up their campaigns.

Election risk isn't the only challenge the Fed faces next year.

Federal Reserve plans to cut interest rates due to cooling inflation, not election uncertainty. Powell emphasizes Fed's independence.

December S&P 500 E-Mini futures (ESZ24) are down -0.02%, and December Nasdaq 100 E-Mini futures (NQZ24) are down -0.10% this morning as market participants awaited the outcome of one of the most closely contested elections in U.S. history, a fresh batch of corporate earnings reports, and the Federal Reserve’s policy…

December S&P 500 E-Mini futures (ESZ24) are up +0.24%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.15% this morning as market participants awaited the outcome of one of the most closely contested elections in U.S. history, a fresh batch of corporate earnings reports, and the Federal Reserve’s policy…

The US Federal Reserve is widely expected to cut interest rates again this week, while votes are being counted in one of the closest-fought presidential races in decades.