Stock Market Update

[BRIEFING.COM] The three major indices remain near their best levels as Fed Chair Powell gives remarks.

Mr. Powell acknowledged that "we're not declaring victory, but we feel like the story is very consistent within inflation continuing to come down on a bumpy path over the next couple of years and settling around 2%." He also indicated that economy remains strong, but warned that "fiscal policy is on an unsustainable path. The level of our debt relative to the economy is not unsustainable."

Treasury yields haven't reacted much to the policy directive or to the Fed Chair's comments. The 10-yr yield is down ten basis points to 4.33% and the 2-yr yield is down seven basis points to 4.20%.