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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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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