US stocks declined after Fed Chair Powell delivered a short and clear message that they will continue to raise rates and hold them at a higher level until they are confident inflation is under control. The market reaction was for rate cuts to get priced further out and a minimal boost for additional pricing to get done before the end of the year. Powell is not budging on having restrictive policy and that should mean the economy will steadily weaken going forward. Powell drove home the point t
26-08-2022 11:19 GMT
by Edward Moya
