Inflation around 2 percent is still very low, but Wall Street traders worry that this could be the beginning of a quick run up in wages and prices. Wall Street predicts nearly an 80 percent chance of a rate increase in March. Many traders read that as a signal that Powell is closely watching the stock market swings. But if inflation returns in force and the Fed hikes interest rates, it could cause Wall Street to redo the playbook. Bond yields jumped to 2.9 percent after the hot inflation report, triggering negative opening for the stock market.

Source: Washington Post February 14, 2018 13:30 UTC