US stocks close higher as traders brush off Powell's warnings of more potential rate hikes

Fri, 08/25/2023 - 16:07

powell fed interest rates fomc — Fed chief Powell reiterated that inflation was still above the Fed's 2% target.
AP Photo/Susan Walsh, File

US stocks rose Friday as markets brushed off Powell's warnings of more possible Fed tightening.
The Fed chief said the central bank could hike interest rates further "if appropriate" to tame inflation.
Investors seemed to ignore the warning, pushing to the Dow up almost 250 points during the session.

US stocks ended higher on Friday as investors brushed off Jerome Powell's speech at the Jackson Hole Symposium, where the Fed Chair warned more central bank policy tightening could be in order.