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Stocks Leap as Fed Chief Hints Interest Rate Increases May Taper Off

Federal Reserve Chair Jerome Powell boosted U.S. stock markets on Wednesday when he said interest rates were “just below" estimates of a level that neither brakes nor boosts a healthy economy. Many took his comments as a signal that the Fed's three-year tightening cycle is ending. The S&P 500 and Dow posted their biggest percentage gains in eight months, while the Nasdaq saw its largest advance in just over a month following Powell's speech to the Economic Club...

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