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Federal Reserve Chair Jerome Powell struck a more hawkish tune than expected during his semiannual report to Congress on Tuesday, saying the central bank will continue to up the temperature on what is already their most aggressive tightening campaign in decades.
Powell takes the stand Tuesday.
Powell’s testimony to the Senate’s banking, housing and
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Stocks rose broadly Friday on the back of a massive rally from technology titans as investors yet again latched onto hopes that the Federal Reserve’s rate hike campaign will soon conclude, though one economist says the “unprecedented” macroeconomic conditions mean rate optimists shouldn’t be so sure the central bank will relent any time soon.
All three major stock
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Gains from technology giants headlined an otherwise forgetful February for Wall Street, with a second-consecutive massive gain from the always volatile electric vehicle giant Tesla leading the charge.
Tesla’s golden year continued in February, paring some of 2022’s losses.
The five best-performing stocks listed on the S&P 500 this month were biotechnology