Fed Chair Extends A Dovish Hand, Lifting Stocks
Extending a hand in support of a more dovish monetary policy stance, Federal Reserve Chairman Jerome Powell signaled a pause in rate hikes in 2019.
On November 28th, Mr. Powell tempered previous remarks about raising interest rates, and, that same day, newly-released inflation data lent support to the Fed chair’s more dovish stance.
Here’s a financial news update.
Minutes of the Fed’s meeting, held earlier this month, were released, and indicated that a planned rate hike for December is still likely to occur.
However, a pause was widely expected following the Fed chairman’s speech and new government reports on inflation, consumers, and the endurance of the 113 month long expansion.
Inflation dropped in the 12-months ending in September, and declined compared to the 12-month rate in August and July.
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