The highly anticipated speech from Federal Reserve Chair Jerome Powell Friday led to disappointment and a market drop-off into the close, with the major indexes closing down for a second week in a row. Powell reiterated the central bank’s fight against inflation, recommitting again to doing what is necessary to bring inflation back under control, reported CNBC.
“Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy,” Powell said.
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