Reported about 2 months ago
Jerome Powell's recent address indicated a shift in the Federal Reserve's focus from combating inflation to supporting the economy, leading to a significant rally on Wall Street. The S&P 500 approached an all-time high, and the return of calm in financial markets has bolstered Powell's reputation as he seeks to avoid an economic downturn. This dovish pivot, amidst indications of a cooling labor market, has sparked optimism for potential interest rate cuts, further energizing both the stock and bond markets.
Source: YAHOO