Stocks Ignore Risks, Rally to New Highs
11/13/2019
Fed Chairman Jay Powell, in his prepared remarks to the Congressional Joint Economic Committee this morning, said he believes current monetary policy is “sufficient,” but slowing global growth and trade developments still pose “ongoing risks.” He also pointed to persistently low inflation which could prompt an unwelcome drop in future inflation expectations. Much of Powell’s statement was familiar “…the Fed isn’t on a preset course,” and frankly, the Q&A session that followed added very little.
