Jerome Powell, Chairman of the Federal Reserve, has said that the economy remains a long way from achieving its inflation and employment goals. His prepared remarks ahead of a testimony to Congress also acknowledge that the outlook has brightened.
The US dollar is retreating from the highs and stocks are bouncing from the lows in the initial response.
— more to come
FOMC Chairman Jerome Powell testimony before Senate Banking Committee – live stream
Earlier, the Conference Board’s Consumer Confidence gauge for February came out at 91.3 against 90 expected.