Powell Cheers Markets Looking for Signs on Rate Cuts
The S&P 500 winning streak rolled on after the Fed chair made encouraging comments about inflation and the state of the labor market.
By Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and
![The markets liked what Jay Powell, the Fed chair, had to say on Day 1 of his Capitol Hill testimony.](https://cdn.statically.io/img/static01.nyt.com/images/2024/07/10/multimedia/10db-powell-mkgc/10db-powell-mkgc-thumbLarge.jpg?auto=webp)
![The markets liked what Jay Powell, the Fed chair, had to say on Day 1 of his Capitol Hill testimony.](https://cdn.statically.io/img/static01.nyt.com/images/2024/07/10/multimedia/10db-powell-mkgc/10db-powell-mkgc-threeByTwoMediumAt2X.jpg?auto=webp)