Powell Gave Stock Markets the Present it Wanted. It Could Giftwrap the Santa Claus Rally.
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It Could Giftwrap the Santa Claus Rally.By Martin BaccardaxShareResizeReprintsIn this articleORCLSPXBACTSLAPowell told reporters in Washington on Wednesday, following the Fed’s third consecutive rate cut since the summer, that the risks to its twin mandate of full employment and stable prices are largely in balance. (Chip Somodevilla/Getty Images)Federal Reserve Chairman Jerome Powell may not be anyone’s idea of jolly, but he has still left something of a gift for Wall Street as Christmas approaches.