When US nonfarm payrolls stunned traders by rising dramatically on Friday, the stock market’s bet that the Fed would stimulate further growth by drastically slashing interest rates was exposed as a fool’s gamble. That’s according to economist Mohamed El-Erian, who explained to CNBC’s “The Exchange” that a rate cut in July was likely but 50 […]
The post Stock Market Bulls Made a Fool’s Gamble on Rate Cuts appeared first on CCN Markets
source https://www.ccn.com/market-news/stock-market-fools-gamble/2019/07/06/
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