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The Fed has cut rates amid stock swoons before. Not this time
A sharp slowdown in the U.S. job market that touched off days of global stock-market turmoil also fueled speculation the Federal Reserve may not wait until its next scheduled meeting, in September, to cut interest rates. Indeed, an interest rate futures contract expiring later this month that tracks Fed policy expectations shot to a two-month high earlier in the week in a bet that rates would be lower by the end of August. The odds are against it. As Chicago Fed President Austan Goolsbee said earlier this week, "the law doesn't say anything about the stock market. It's about employment and it's about price ... (full story)