"Powell has been talking a lot about the labor market and that the healing must include all workers that want jobs. And Yellen is a labor economist," said Quincy Krosby, chief market strategist at Prudential Financial. "Official numbers don't show the inflation that people see in their day to day life," said Patrick Leary, chief market strategist and senior trader at Incapital. "Investors need the bond market to function properly," Krosby said. "The Fed can tolerate inflation creeping higher -- but not exploding higher."

Source: CNN December 17, 2020 17:58 UTC