Federal Reserve’s surprise pivot sparks Wall Street rally: Traders celebrate paradigm shift toward soft landing

In a surprising turn of events, Wall Street traders and the Federal Reserve find themselves aligned as the monumental shift towards a soft landing in the global economy unfolds. The Fed's announcement of an end to its historic tightening campaign sparked an impressive cross-asset rally, with global shares, Treasuries, currencies, and bonds all surging. Traders laud Jerome Powell's successful bid for a disinflationary trajectory, marking a paradigm shift on Wall Street. Despite potential reversals, the Dow Jones hits a record, and markets revel in what's hailed as the best Fed day in almost 15 years.

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Wall Street Traders Go All-In on Great Monetary Pivot of 2024

By Vildana Hajric, Jessica Menton, Carter Johnson and Elena Popina

After clashing in recent years, Wall Street traders and the Federal Reserve are – for once – broadly in sync: The great monetary pivot is near as central bankers engineer a once-unthinkable soft landing in the world's largest economy.

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