STOCK MARKET NEWS: Dow exits bear market as Fed’s Powell talks rate hikes, Sam Bankman-Fried chat

U.S. stocks rose across the board after Federal Reserve Chairman Jerome Powell signaled smaller rate hikes may begin as soon as December. The Dow Jones Industrial Average gained over 700 points exiting the bear market that began in September. In commodities, oil rose 3% to $80.55 per barrel. Federal Reserve Chair Jerome Powell delivers opening remarks to a"Fed Listens" session in Washington Sept. 23, 2022.

Following his prepared remarks, Powell was interviewed by Hutchins Center director David Wessel and took questions from the audience.The Fed chair said there’s an incentive for moderating employment demand. “Right now people’s wages are being eaten up by inflation,” Powell said, while noting wages at the lower end are rising faster than inflation.

“We understand that real wages are not going up for most people,” Powell said. “This labor shortage doesn’t look like it’s going away any time soon.” As a result, Powell expects investment in labor replacement technology.The Fed chair says the natural assumption is to assume inflation will recede, but that hasn’t happened.

“At a certain point we’re just going to call it,” he opined, noting the Fed wants to stop at a place “where it’s safe.”

what's happening ES 132 give or take from the low

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Falls 300 Points, Oil Slides Amid Covid Protests in ChinaThe Dow fell more than 500 points as protests across China against Beijing’s zero-Covid policy sparked worries about global growth The world is connected. We owe it to ourselves to get less selfish and more mindful
Source: WSJ - 🏆 98. / 63 Read more »

Stock market news: Dow, S&P 500 and the Federal ReserveThe stock market will respond to reports on GDP and jobs, speeches by Jerome Powell and Janet Yellen, and to business leaders speaking at the DealBook conference Wednesday.
Source: CNN - 🏆 4. / 95 Read more »

USD to grind higher if Powell realigns the market to the Fed’s rate trajectory – DBS BankUS Dollar Index closed the first two days of the week in positive territory. Fed Chair Jerome Powell will share his thoughts on the economy and labor
Source: FXStreetNews - 🏆 14. / 72 Read more »

Asian Stock Market: Mixed signals from China tests traders ahead of key Fed talksAsian markets struggle for clear directions during early Wednesday as traders await crucial catalysts scheduled for publishing. Also likely to have ch
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stock market could plunge another 24% next year, Bank of America warnsBank of America analysts said this week the S&P 500 could plunge as much as 24% next year as a result of the Federal Reserve's quantitative tightening. Or it could rise 24% next year. My prediction is as sound as yours. FJB What is going on
Source: FoxBusiness - 🏆 458. / 53 Read more »