Federal Reserve Cuts Rate for the First Time in a Decade - 07/31/2019

In a fast market, traders reacted to the news that the Federal Reserve has lowered interest rates by ¼%. Immediately following the announcement of the ¼% rate cut gold prices sold off briskly and within the first 10 minutes of trading traded down by approximately $10. This is the first time the Federal Reserve has cut interest rates since 2008. They also ended their balance sheet reductions two months early. As quick as the market sold off it quickly recovered temporarily and actually traded with positive gains for a brief instant. However, as traders absorbed the statement that was released just... Read more

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