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US stocks rise and yields tumble after Fed's Jerome Powell vows 'unconditional' steps to tame inflation

11 days ago   |   By Business Insider

Federal Reserve Chairman Jerome Powell. Samuel Corum/Getty Images US stocks jumped on Thursday as investors focused on Fed Chairman Jerome Powell's testimony to Congress. Powell said he would take an "unconditional" approach to taming inflation as prices rise at the fastest pace in 40 years. Bond yields fell and oil prices edged lower as some finally see relief in surging commodity prices. US stocks rose on Thursday as investors were focused on Fed Chairman Jerome Powell's second day of testimony to Congress on the state of the US economy. On Wednesday, Powell told the Senate that managing...
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