Wall Street edges higher as Fed's Williams boosts rate-cut hopes
NEW YORK - U.S. stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the U.S. central bank at the end of the month.
Williams said that when rates and inflation are low, policymakers cannot afford to keep their “powder dry” and wait for potential economic problems to materialize. Before Williams’ comments, stocks had been lower as shares of Netflix Inc tumbled 10.3% after the company’s quarterly results, which missed targets for new subscribers overseas.
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