Shares Rise As Powell Deemed Less Aggressive
The S&P 500 and the technologically heavy Nasdaq 100 went up. Yields on bonds fell, with the 10-year yield hovering around 3.15%. The dollar fell after previous gains, while other safe-haven assets such as gold rose. Speaking to the Senate on Wednesday, Powell made no mention of the size of future increases, but tacitly acknowledged that the Fed had failed to complete its work and said it would be difficult to plan a smooth landing....