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.


Comments are closed.