The S&P 500 winning streak rolled on after the Fed chair made encouraging comments about inflation and the state of the labor market.

The markets liked what Jay Powell, the Fed chair, had to say on Day 1 of his Capitol Hill testimony.Cheriss May for The New York TimesPowell’s balancing act

The S&P 500 is on a six-day winning streak and closed at another record on Tuesday, as investors grow more confident that the Fed could cut interest rates soon.

The market rally came after Jay Powell, the Fed chair, made encouraging comments about inflation and the labor market in his first of two days of testimony on Capitol Hill.

The Fed is in a delicate situation. Lowering rates prematurely could risk reigniting inflation, and doing so too slowly could undermine growth. “We’re very much balancing those two risks, and that’s really

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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