Following Fed Chair Jerome Powell’s warning about the risks of maintaining high interest rates for an extended period of time, the S&P 500 surged to a new record on Tuesday.
At last, the broad market index saw a 0.1% increase. After setting a record earlier in the session, the Nasdaq Composite gained almost 0.1%. A 0.2% decrease, or 62 points, was made in the Dow Jones Industrial Average.
Powell warned that maintaining high interest rates too long could jeopardise future economic expansion, ostensibly a sign that the central bank is thinking of loosening its rules.
Source (CNBC)
