Markets experienced a substantial rise following an announced ceasefire between Iran and Israel, significantly lifting stock prices. The S&P 500 saw a 1.11% increase, as investors responded positively to the news. However, Federal Reserve Chair Jerome Powell indicated that inflation risks prevent any immediate interest rate cuts. Despite this market optimism, uncertainty looms due to ongoing military operations in the region and Powell's warnings about economic pressures. Investors welcomed the ceasefire, though concerns over inflation remain pertinent for the Fed's monetary policies moving forward.
"If it turns out that inflation pressures do remain contained, we will get to a place where we cut rates sooner rather than later, but I wouldn't want to point to a particular meeting."
"Despite the bump, bearish signals remain on the horizon, with Federal Reserve Chair Jerome Powell testifying at a House Financial Services Committee hearing on Tuesday that the central bank will likely keep rates steady as the threat of inflation remains."
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