FSR - Wall Street Breakfast: Powell's Patience

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Powell's patience Stocks are continuing their march higher following a predicted move by the Fed to wind down its pandemic-era bond purchases. The central bank will cut its monthly Treasury purchases by $10B and mortgage-backed securities by $5B, though it left the door open to accelerating that pace (the program would end in 2022). Prior to the announcement, the Dow and S&P 500 were trending down, but picked up after the decision was announced and closed in positive territory.Markets still at records? Fed Chair Jerome Powell highlighted that tapering doesn't mean policymakers will hike interest rates any time soon. He also held to the belief that high inflation would prove "transitory," and would not likely require a rapid change in policy. An accompanying statement still hedged

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Wall Street Breakfast: Powell's Patience