Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Powell: US economy healthy and rate hikes aren't automatic


November 29, 2018

WASHINGTON — Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening.

Powell's comments ignited a huge rally on Wall Street, with the Dow Jones Industrial Average surging 617 points, its biggest one-day increase in eight months.


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