Jerome Powell delivers a speech on the U.S. economy as the Fed chair.
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On Thursday, Jerome Powell, the Federal Reserve Chair, gave a speech on the U.S. economy at the Economic Club of New York.
Wall Street is facing a tough time as stocks have been fluctuating recently, with Treasury yields hitting record highs, and investors are considering the possibility of the Fed keeping interest rates elevated for an extended period.
The CME Group's FedWatch tool indicates that traders were anticipating a 96% probability that the central bank would maintain the current 5.25%-5.5% interest rate range before Powell's speech.
by Fred Imbert
markets
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