The Dow Jones Industrial Common sank greater than 1,000 factors Friday after Federal Reserve Chairman Jerome Powell vowed to maintain urgent the combat in opposition to inflation, even on the expense of financial progress.
In a extremely anticipated speech, Mr. Powell mentioned the Fed must continue raising interest rates and hold them excessive till inflation is underneath management. His feedback disillusioned traders who had hoped inflation had peaked and the Fed would shift from elevating charges to reducing them someday subsequent yr.
