The Federal Reserve cut interest rates by 0.25% on November 7. More interest rate cuts are likely through the end of 2026.

He also reaffirmed his intention to stay at the Fed until his four-year term as chair expires in May 2026.Asked if he thought a president could remove him or other senior personnel from their positions before their terms end,

JPMorgan Chase fell 4.3%, a day after banks decisively led the market on expectations that a stronger economy and lighter regulation would mean fatter profits. It and Goldman Sachs were the biggest reasons for the Dow’s slight loss.