CNBC Daily Open: Markets surge on Fed rate-cut signals

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Wall Street liked what it heard from the Fed today, that its sticking to three rate cuts for this year.

A trader works, as a screen displays the Fed rate announcement, on the floor of the New York Stock Exchange in New York City, U.S., March 20, 2024.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribemore as central banks continue to buy bullion. Prices could hit $2,300 per ounce later this year, especially with the U.S.

"In other words, they view the most recent numbers as a temporary interruption rather than a change in the trend."for this year and now see the economy growing at a 2.1% annualized rate, up from the 1.4% estimate in December.

 

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