Damn Democrats!!!
NEW YORK (AP) - Wall Street rebounded sharply Tuesday, with the Dow Jones industrials surging further into record territory after a Federal Reserve official indicated the Fed will maintain its policy of stable interest rates.
Investors who were heartened by an earlier report of slowing wholesale inflation were cheered by comments from Federal Reserve Bank of St. Louis President William Poole, who described the Fed's interest rate policy as "about right." Poole, who currently sits on the Fed's policy-making Open Market Committee, reassured a market that has been counting on a steady rate policy for the near future.
Source: My Way News - Stocks Surge on Fed Official's Comments
No comments:
Post a Comment