US markets are making a turnaround after the Federal Reserve indicated that it would keep the expansion going however possible.
The Dow is up about 400 points, or 1.6% — its best day since mid-February. The Nasdaq also moved back out of correction territory after a miserable Monday.The Nasdaq Composite dropped Monday on worries about a possible regulatory crackdown on big tech companies. The index was up about 1.9%, erasing all of the previous day's losses.The S&P 500 , meanwhile, was up 1.5%, marking its best one-day gain since January 30.Just last week, this picture looked substantially different.
"As always, we will act as appropriate to sustain the expansion," he said Tuesday at a monetary policy conference in Chicago.Powell's remarks came a day after St. Louis Fed President James Bullard said the central bank may need to cut interest rates soon amid concerns about weak inflation and risks to economic growth.Although Powell didn't echo Bullard's more explicit expectation for a rate cut, investors seems to have heard all they needed to hear.
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