Oracle and the Fed Were Expected to Provide Wall Street With Answers. Only One Delivered.

Federal Reserve Chairman Jerome Powell’s answer to a crucial question on interest rates stoked big gains for stocks on Wednesday, but bigger concerns over a query put to executives at Oracle looked set to unwind nearly all of them. The Fed lowered its benchmark borrowing rate for a third consecutive meeting, taking it to between 3.5% and 3.75% and forecast a further quarter-point reduction in 2026. Powell told reporters that risks to the central bank’s dual mandate for full employment and steady prices were largely balanced but noted that delayed data from the 43-day U.S. government shutdown still will need to be assessed.