Fed's Surprise Rate-Cut Plan Sparks Hope for Biotech Market Rebound in 2024
Originally Published 2 years ago — by Endpoints News
The Federal Reserve's surprise announcement of plans to cut interest rates three times next year has sparked hope for a rebound in the biotech market. High interest rates have hindered fundraising and IPOs in the sector since early 2022, but the Fed's decision has brought optimism to a struggling industry plagued by layoffs and falling valuations.