Gate News Report, March 19 — Federal Reserve Chair Jerome Powell stated that the threshold for rate cuts has increased, and U.S. stocks closed lower on Wednesday. The Dow Jones Industrial Average fell 1.6%, the S&P 500 declined 1.4% to its lowest level since November, and the Nasdaq Composite dropped 1.4%. Despite the overall market decline, the oil and natural gas sectors surged, with Brent crude oil rising nearly 7% to above $110 per barrel.
The Federal Open Market Committee (FOMC) maintained the interest rate range at 3.5%-3.75% and discussed the potential for future rate hikes. Due to ongoing inflation pressures driven by tariffs and energy costs, significant relief is not expected until mid-year. Powell emphasized that policy continuity will be maintained during the ongoing investigation and stated that he would not resign if necessary.
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