Fed's Powell talks inflation, jobs and rates staying low
The Federal Reserve kept interest rates on hold and indicated no major hikes until 2023 while also upping its economic outlook forecast for growth and inflation.
FED KEEPS RATES ON HOLD, LIFTS ECONOMIC PROJECTIONS
The Dow Jones Industrial Average jumped over 189 points, driving past the 33,000 level for the first time, while the Nasdaq Composite and S&P 500 also gained 0.29% and 0.4%, respectively.
INVESTORS DIGEST FED'S COMMITMENT TO LOW RATES UNTIL 2023
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34756.39 | +179.35 | +0.52% |
| SP500 | S&P 500 | 4229.89 | +37.04 | +0.88% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13814.488913 | +199.98 | +1.47% |
Fed Chairman Jerome Powell hinted why inflation isn't a problem, what full employment will look like and why policymakers won't make any major changes.
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