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The Fed just killed the Santa rally

Jerome Powell gave investors a rate cut. But what sent Wall Street plunging was his message for 2025.

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’Twas the week before Christmas, and all over Wall Street,
The traders heard the Fed, and voted with their feet.

Poor old Jerome Powell. The chairman of the US Federal Reserve must have thought he had a pretty good message to deliver to investors at his traditional post-meeting press conference.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/the-fed-just-killed-the-santa-rally-20241219-p5kzl4