The S&P 500 and the Nasdaq closed sharply higher on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease, in remarks he made following a quarter-point rate hike by the U.S. central bank.
Feb 1 (Reuters) - The S&P 500 and the Nasdaq closed sharply higher on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease, in remarks he made foll… [+3578 chars]
Investors are shifting their focus Tuesday from the stock market to Stockholm as they await a fairly rare public speaking appearance by Federal Reserve Chairman Jerome Powell.
The Federal Reserve's independence from political influence is central to its ability to battle inflation, but requires it stay out of issues like climate change that are beyond its congressionally-established mandate, Fed Chair Jerome Powell said on Tuesday.
Fed Chairman Jerome Powell said at conference in Stockholm that restoring price stability requires unpopular decisions.
Federal Reserve Chair Jerome Powell tested positive for COVID-19 on Wednesday and is experiencing mild symptoms, the U.S. central bank said in a statement.
A look at the day ahead in European and global markets from Anshuman Daga:
Some U.S. investors are looking abroad to capture better stock returns in the coming months, betting European and other international stocks hold more enticing valuations after a long period of U.S. dominance.
Federal Reserve chairman Jerome Powell could push the economy into a tailspin in a misguided attempt to safeguard his own legacy.
BlackRock's Ben Powell told Bloomberg markets were too confident that interest rates would come down faster than planned, making stocks overvalued.