Wall Street ends mixed, trade choppy after Fed's rate cut, outlook

The Dow closed higher after meandering during Powell's speech. The central bank indicated it will steadily cut rates for the rest of the year as policymakers signaled concerns about weakness in the labor market. The Fed projected two more quarter-percentage-point cuts this year. In a press conference, Powell talked about the mounting downside risks of employment compared to inflation, but said inflation risks still must be assessed and managed. This "Powell tempered some of the initial enthusiasm in the m ...