Federal Reserve Chair Jerome Powell's speech in Rhode Island weighed heavily on the market. He signaled a cautious approach to future rate cuts after the Fed’s recent 25 basis points cut. Powell highlighted the balancing act the Fed faces between inflation risks tilted to the upside and employment risks to the downside, describing the situation as challenging with "no risk-free path." He also stated that equity prices are currently "fairly highly valued" by many measures, which tempered investor enthusiasm ...