Mid-Cycle Adjustment: News Conference and Nikkei Stock

mid-cycle adjustment: It's not the beginning of a long series of rate cuts, he said, adding, I didn't say it's just one move. ; Financial markets were whipsawed during the news conference as Powell struggled to define the rate path ahead, according to The Japan Times. He attempted to explain how the cuts were mainly defensive, aimed at supporting the economy during a period of too low inflation, weakening global growth and trade tensions. We're thinking of it as essentially in the nature of a mid-cycle adjustment to policy, Powell said at a news conference following the quarter percentage-point reduction. But at the same time, he said the U.S. grew at a healthy pace in the first half and that the outlook was favorable. The Nikkei 225 stock average recouped early losses and ended up 0.1 percent, helped by the yen's decline. The dollar broke above the 109 level for the first time in two months on Thursday, after Powell's warning against expectations of a lengthy U.S. monetary easing cycle. (news.financializer.com). As reported in the news.