Fed could be the Grinch who 'stole' cash earning 5%. What a Powell pivot means for investors.

Six months later, the Fed, in its final meeting of the year, opted to keep its policy rate unchanged at 5.25% to 5.5%, a 22-year high, but and that a policy pivot to interest rate cuts was likely next year. Importantly, the central bank chair also said he doesn’t want to make the mistake of keeping borrowing costs too high for too long. Powell’s comments helped lift the Dow Jones Industrial Average above on Wednesday, while the blue-chip... + full article