Santoli’s Friday market notes: Stocks rise on Fed Chair Powell’s speech, but will the momentum continue?

Federal Reserve Chairman Jerome Powell plays good cop following the regional Fed presidents pressing a tougher line on the taper.

The Fed officials stated eagerness to start pulling back on stimulus allowed Powell to seem net-dovish by acknowledging economic progress and supporting a pullback in quantitative easing while also arguing inflation will recede and eventual rate hikes are a wholly separate, distant call from the taper plans.

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