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Potential rate cuts music to market bulls' ears

Obsession with Fed's next move likely to persist through the policy meeting at the end of the month; some critics warn cuts could cause "imbalances"

In two days of congressional testimony, Mr Powell went out of his way to make a case for a preemptive rate cut.

THE message is clear from the world's central bankers: We've got the bull market's back. With that kind of support, more record highs look likely this week.

The bulls were getting jumpy ahead of US Federal Reserve chairman Jerome Powell's mid-week testimony because of fears that strong...