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Treasury's Bessent says interviews for potential Fed chairs will start around Labor Day

1. Treasury Secretary Bessent announces Fed chair candidate interviews post-Labor Day. 2. Eleven strong candidates, including key Fed officials, are being considered. 3. Bessent advocates a 50-basis-point interest rate cut to support housing. 4. Federal Reserve's current interest rates challenge the housing sector and low-income households. 5. Markets expect Fed rate cuts following disappointing jobs report.

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FAQ

Why Bullish?

Anticipation of lower interest rates usually boosts investor sentiment and stock valuations. Historically, rate cuts have driven stock markets higher due to increased liquidity.

How important is it?

The potential for interest rate cuts has a strong influence over S&P 500 valuations, impacting borrowing costs and corporate profits.

Why Short Term?

Rate cut announcements typically show immediate effects on market sentiment and performance. Example: Job reports often cause swift market reactions, seen during past Fed meetings.

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