Stocks were little changed to start the new week as investors continued to digest last week’s jumbo-sized rate cut from the Federal Reserve. Still, two of the three main benchmarks managed to end at fresh highs.
This week’s economic calendar features a laundry list of central bank speeches, including one from Fed Chair Jerome Powell on Thursday. Today, Chicago Fed President Austan Goolsbee said that data supported the central bank’s 50 basis-point rate cut (0.50%) at last week’s meeting.
He added that interest rates “need to come down significantly going forward” so that the Fed can keep inflation near its 2% target and the labor market healthy.
