Wall Street traders drove stocks down from all-time highs, with Federal Reserve Chair Jerome Powell offering no hints on whether he might support a rate cut at the central bank’s October meeting. Bonds held gains.
Following a series of records, equities took a breather amid a slide in big tech. Powell said the outlooks for the labor market and inflation face risks, reiterating his view that policymakers likely have a difficult road ahead as they weigh further interest-rate cuts.
WATCH: Federal Reserve Chair Jerome Powell says the outlooks for the labor market and inflation face risks. Source: Bloomberg
“Powell says nothing new,” noted Peter Boockvar at The Boock Report.
To David Russell at TradeStation, ...
