Top market strategist sees ‘nirvana’ after Fed rate cut, new economic data
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The Federal Reserve cut interest rates by 50 basis points on September 18, 2024, the first cut since March 2020; initial jobless claims fell to 219,000 for the week ending September 14, the lowest since May; unemployment rolls decreased to 1,829,000 for the week ending September 7; manufacturing surveys show resilience, with the Philadelphia Fed Manufacturing Business Outlook Survey turning positive; wage growth stabilized at 3.3% in August, indicating a robust economy; Eric Wallerstein from Yardeni Research describes the situation as 'nirvana' for the economy.

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https://fortune.com/2024/09/19/nirvana-markets-fed-rate-cut-jobless-claims-wages-manufacturing/