While you were sleeping: Stocks, bonds fall on Powell’s economic optimism

Tue, 27 Feb 2018

By Margreet Dietz Feb. 28 (BusinessDesk) - Wall Street moved lower as did US Treasuries, while the dollar rose, amid concern comments from Federal Reserve Chairman Jerome Powell suggested the central bank might have to raise interest rates more than previously thought. In prepared remarks for his first testimony as Fed chairman before House Financial Services Committee, Powell pointed to “further gradual increases in the federal funds rate,” adding that, “as always, the path of monetary policy will depend on the economic outlook as infor...

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