LIVE Updates: Market Response, Fed Chairman Powell Says On The Economic system

Federal Reserve Chairman Powell gave his testimony on the state of the US economy in his bi-annual monetary policy report on Tuesday.

He reminded lawmakers that while the recovery remains uncertain, wider adoption of the COVID-19 vaccine can help stabilize the economy.

FED’S Gaerner says the US economic outlook is still “highly uncertain”, but broad vaccine rollout key

Shares, led by a sharp drop in the Nasdaq, were consistently down despite some of his bullish comments.

ticker safety Latest change Change%
Me: DJI DOW JONES AVERAGE 31408.66 -113.03 -0.36%
I: COMP NASDAQ COMPOSITE INDEX 13276.304734 -256.74 -1.90%
SP500 S&P 500 3850.99 -25.51 -0.66%

Powell answered questions from lawmakers about a property tax and declined to slow monetary policy anytime soon.

He dodged a few direct questions about the $ 1.9 trillion COVID-19 relief bill looming on Capitol Hill, however.

Follow all the highlights in the FOX Business Blog. Mobile users click here.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

Comments are closed.