The Nasdaq and S&P 500 soared a day after Federal Reserve Chair Jerome Powell acknowledged progress in the fight against inflation and appeared reluctant to push back against the rally in stocks and bonds
still digesting
the Fed's policy decision on Wednesday and comments from Powell, who acknowledged progress in the fight against inflation and appeared reluctant to push back against the rally in stocks and bonds. “I think the reaction to yesterday’s Fed comments really encouraged investors to go risk on,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. "The bottom line for investors I think is that the Fed’s comments were unexpected.”
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