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Stocks surged Thursday following Powell's press conference after the rate cut decision. "Chair Powell had one job at his post-FOMC press conference today: convince markets that a 50 bp cut was ...
In his press conference, Powell noted that the Fed sees the economy as being in a good place and unemployment is still relatively low despite a slow but steady rise in 2024.
US Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting at the Federal Reserve in Washington, DC, on November 1, 2023.
Federal Reserve Chair Jerome Powell will testify before the House Financial Services Committee Wednesday morning on the state of the U.S. economy. Powell has put interest rate cuts on hold amid ...
The S&P 500 index — as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — extended its session losses during Powell’s press conference, tumbling by 2.6%, eyeing its worst session since ...
Powell said officials want to “feel more confident” inflation is headed toward the central bank’s 2% target. Wednesday’s policy statement also made that clear.
Today's newsletter is by Myles Udland, Head of News at Yahoo Finance. ... The former will feature during Powell's press conference on Wednesday afternoon.
The stock market certainly responded well to Powell’s dovish tone on Friday, however. The Dow Jones Industrial Average rose 1.14%, while the S&P 500 and tech-heavy Nasdaq surged 1.15% and 1.47% ...