US Stocks Dip Ahead Of Powell Hearing

US stocks dip ahead of Powell hearing

Wall Street stocks edged lower early Tuesday as markets await a hearing with the Federal Reserve chair, amid debate on inflation and infrastructure spending

New York, (UrduPoint / Pakistan Point News - 22nd Jun, 2021 ) :Wall Street stocks edged lower early Tuesday as markets await a hearing with the Federal Reserve chair, amid debate on inflation and infrastructure spending.

Tuesday's session opened in a low-key manner after Friday's rout was followed by an impressive rally on Monday.

Federal Reserve Chair Jerome Powell described the US economy as in the midst of a "sustained improvement," but still in need of policy support in prepared remarks ahead of a House hearing later Tuesday.

Powell also acknowledged that inflation has "increased notably in recent months," but reiterated that he expects the dynamic to be transient.

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