⚠️BREAKING: *DOW ENDS UP MORE THAN 250 POINTS, NASDAQ JUMPS 1.9% AFTER POWELL SAYS INFLATION IS DECLINING - $DIA $SPY $QQQ 🇺🇸🇺🇸
Powell's remarks were largely a repeat of his prior remarks, but many were eager to see if the recent January jobs report would force him to tilt more hawkish. Powell admitted that last week's
was stronger than anyone had expected, and was further evidence that inflation will take a long time to ease to the Fed's 2% target.will take a “significant period of time,” Powell said Tuesday to the Economic Club of Washington, reiterating the need for ongoing rate hikes. [W]e think that we're going to need to do further rate increases, as we said [at the February meeting], and we think that we'll need to hold policy and restrictive level for a period of time,” he added.
“On the back of Powell's appearance we are adding a 25bp to the May FOMC meeting, bringing our expectation for the peak rate to 5.00% to 5.25%,” Morgan Stanley said in a note.Microsoft Corporation (NASDAQ:
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