Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee on the 7th that the Fed may raise interest rates more than previously expected in order to combat inflation.
The market had previously expected that the probability of the Fed raising interest rates by 1 yard in March was as high as 69.4%, but Powell’s hawkish speech on the 7th greatly increased the probability of raising interest rates by 2 yards in March. The latest survey shows that the probability of the Fed raising interest rates by 2 yards in March is expected to reach 48.4%, higher than the previous 30.6%.
On the 7th, the S&P 500 Index fell 0.8% to 4,016.41 points, the Dow Jones Industrial Average fell 0.8% to 33,183.45 points, and the Nasdaq Index fell 0.5% to 11,612.55 points.
further reading
On the eve of Powell’s hearing, stop watching the listening station, and the futures market fluctuated at night
The U.S. recession is nowhere to be seen, and the Fed’s anti-inflation policy is more difficult
The market is closely watching Powell’s congressional speech, and the NT dollar depreciates slightly by 1.8 cents to close
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