Fed Chair Extends A Dovish Hand, Lifting Stocks
In a speech on Wednesday, Powell tempered previous remarks about the Fed's views on interest rate hikes.
The news cheered investors in stocks as newly released inflation data encouraged the Fed chair's more dovish posture.
The minutes of the Fed's meeting held three weeks ago were released Thursday and indicated another interest rate increase was "likely to be warranted fairly soon." It's forecasted a rate hike for December and that is still widely expected to occur. However, a pause in rate hikes seemed more likely after this week's events and economic data releases.
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