Stock Market Futures Falter After Hawkish Remarks From Federal Reserve
U.S. stock futures are edging lower at the mid-week point in the current trading week. This seems to be the case even after Federal Reserve chair Jerome Powell provided greater insight into the Fed’s economic strategy moving forward. To begin with, Powell said, “The labor market is very strong, and inflation is much too high.” He also notes that if “it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings,” the central bank will do so.
Commenting on the current state of things is Jim Paulsen, the chief investment strategist over at the Leuthold Group. He explains, “Investor attitudes are being bolstered by the fact that the stock market seems little concerned about bond yields surging higher or a Federal Reserve which is getting more hawkish by the day.” While all this is going on, we have meme stocks and a ton of automotive industry developments in the news today. As of 4:39 a.m. ET, the Dow, S&P 500, and Na
