US stocks closed mixed on Wednesday after Federal Reserve Chair Jerome Powell provided guidance around the central bank's economic outlook.
The tech-heavy Nasdaq closed at a record for a second straight day, while the S&P 500 and Dow Jones industrial finished lower. Powell said the pandemic could result in permanent economic damage, but also signaled further stimulus efforts.Read more on Business InsiderUS stocks closed mixed on Wednesday after Federal Reserve Chair Jerome Powell provided guidance around the central bank's economic outlook.
Powell said the pandemic could result in permanent economic damage, but also signaled further stimulus efforts. The Fed expects to"What is surprising is that on the heels of some V-shape recovery indicators, the Fed sees structural fragility in the US economy," said Mike Loewengart, managing director of investment strategy at E-trade.
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