Bank stocks rise on Fed's first rate cut of 2025
Key insight: Bank stocks rose Wednesday after the Fed announced plans to cut the federal funds interest rate by one-quarter of a percentage point.What's at stake: Banks' net interest income could be negatively affected by the cut, but loan growth could help offset such a decline.Expert quote: Fed Chair Jerome Powell said the board hasn't decided about future rate cuts. "Some supported more cuts and some didn't," he said Wednesday.Bank stocks edged upward Wednesday after the Federal Reserve's first interest- ...