Good morning, Opening Bell crew. Senior reporter Phil Rosen here.
Yesterday, Fed Chair Jerome Powell gave a speech at the Economic Club of Washington, saying the stronger-than-expected labor market is going to make the inflation fight difficult.
"It kind of shows you why we think this will be a process that takes a significant period of time," Powell said, adding that the path forward is "probably going to be bumpy."
"Tuesday's comments do nothing to undermine the recent strength in the market," David Russell, VP of market intelligence at TradeStation, said. "They also seem to keep us on track for another 25 basis points in March, with possibly no more increases after that. It's a potential Goldilocks environment for the bulls and a very tough spot for the bears."
That's that for the latest Fed talk — but today, we're taking a closer look at the AI hype train passing through the stock market.