SPXT - The Stock Market: The Fed Is Behind You

• Fed chair Jerome Powell spoke today and the stock market rose feeling confident that the Federal Reserve will continue to underwrite further increases in stock prices.
• The U.S. dollar declined in value after the speech reflecting the fact that many market participants still believe that the Fed still being too aggressive.
• Furthermore, Fed projections for interest rates still show that Fed officials still believe that short-term interest rates will still remain very, very low for a long time.
• Thus, stock prices move upward confident that the Federal Reserve will continue to support them for an extended period of time,.

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