Federal Reserve Chairman Jerome Powell added more fuel to the fire for investors already spooked by the spectre of higher inflation and rising interest rates in the bond market.
Speaking at the Wall Street Journal Jobs Summit, Powell said he expects the economic reopening to cause some inflation later this year, but that it would be temporary, and it was not enough to make the central bank hike interest rates.
That was little consolation to investors, who pushed the Nasdaq (^IXIC) and S&P 500…
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