Nov 28, 2018
NEW YORK | Stocks surge as Powell hints at slower interest rate hikes
NEW YORK | Stocks surge as Powell hints at slower interest rate hikes
NEW YORK — U.S. stocks are surging Wednesday afternoon after Federal Reserve Chairman Jerome Powell hinted that the Fed might be willing to raise interest rates at a slower pace next year.
That relieved investors who were concerned that rising rates would drag down the U.S. economy and possibly bring an end to the nine-year-old bull market.
In a speech to the Economic Club of New York, Powell…
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