By Isla Binnie and Sruthi Shankar
NEW YORK (Reuters) -Wall Street closed flat on Friday, hovering near the previous session’s record-high close for the Dow and S&P 500, while the dollar firmed as investors digested the Federal Reserve’s 50-basis-point cut midweek that started a rate reducing cycle.
Days after the rate cut, two Fed governors aired opposing views over prospects for inflation, underlining the scale of debate over a move Chair Jerome Powell positioned as safeguarding a resilient economy rather than an emergency response to weaker jobs data.
All three major U.S. stock indexes ended the week higher, not far off all-time peaks hit on Thursday as buyers piled in to riskier assets.
Markets are fully pricing in a cut of at least 25 bps in November, with expectations for a cut of 50 bps given a 48.9% chance, according to CME’s FedWatch Tool.
The 50 bps rate cut has made investors…
