On Wednesday, Chairman of The Federal Reserve, Jerome Powell, indicated smaller take hikes in upcoming months.
In previous months, inflation peaked with record rate hikes to east inflation in an aggressive manner. According to Jerome Powell, supply chain pressures have eased core inflation.
The stock market triumphed on Wednesday with significant gains all-around. The Nasdaq Composite rose 4.41%, with the Dow Jones up 2.18%. Tesla stock spiked up over 7.6%, Apple up over 4.8%, and Meta up nearly 9%.