July 19, 2024

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Stocks traded higher Friday after Federal Reserve Chairman Jerome Powell said that while the central bank has made progress on bringing inflation down to its 2% target, it’s still prepared to tighten monetary policy further if needed. However, he did note that the 11 rate hikes the Fed has made so far have shifted monetary policy “well into restrictive territory.”

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2023-12-01 12:38:00

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