Janet Yellen, Fed’s Jerome Powell testify on COVID-19 relief, economy


Liberty University Business School Dean and former Congressman Dave Brat discusses the Biden administration's tax proposal.Video

Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen returned to Capitol Hill to give a progress report on the pace of the COVID-19 relief efforts in the second day of testimony.

COVID-19 PANIC STOCK SELLING BURNED INVESTORS WITH SHORTEST BEAR MARKET EVER

While Powell assured lawmakers that inflation will rise, but won’t spiral out of control, Yellen hinted at forthcoming tax hikes which spooked the financial markets on Tuesday. She reiterated more on the same Wednesday, especially a higher corporate tax rate.

STOCKS BATTLE HIGHER, INTEL LEADS DOW

Stocks were higher Wednesday with the exception of the Nasdaq Composite.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35399.84 -55.96 -0.16%
SP500 S&P 500 4528.79 +19.42 +0.43%
I:COMP NASDAQ COMPOSITE INDEX 15265.889917 +136.39 +0.90%

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View more information: https://www.foxbusiness.com/markets/janet-yellen-feds-jerome-powell-testify-on-covid-19-relief-economy

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READ:  Gautham Sastri | Fox Business

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