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Bank Stock Roundup: Fed Cuts Rate, JPMorgan, U.S. Bancorp & Wells Fargo in Focus

September 20, 2019

Via: Yahoo

The Federal Reserve’s chairman Jerome Powell announced the second rate cut of 2019, by 25 basis points (bps), at the end of the two-day Federal Open Market Committee (FOMC) meeting this Wednesday. Global economic growth and trade-war related uncertainties leading to slowdown in business investments were cited as key reasons for the latest cut. Hence, banking stocks are expected to record lower margins at the end of the current quarter.

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