The S&P 500 rose more than 2.5 percent on Wall Street Friday after Mr. Powell’s comments shortly after 10 a.m. The Fed’s plans for future interest rate increases have become a critical concern for investors as stocks have stumbled in recent months. Markets slumped last month after the central bank raised rates and policymakers suggested it would continue on a course of tightening its monetary policy. Mr. Powell, acknowledging the market’s concerns that rising interest rates would dampen the economy, said the central bank could adjust its plans if conditions warrant. [Read more about Mr. Powell’s comments.]

Source: New York Times January 04, 2019 10:55 UTC