Fed cuts rates, but Powell plays the Grinch

Fed chief Jay Powell said quarter-point cut was close cal l. (0:17) Dot plot sees fewer cuts and higher inflation in 2025. (1:14) Stocks plunge as yields , dollar rally. (2:48) Show Notes 25 top picks for 2025 Merck enters obesity drug race in pact with Chinese pharma Hansoh Find out more about Seeking Alpha's Virtual Analyst Reports here .