Dow falls more than 100 points after “Powell”

2023-05-19 16:02:48

The Dow Jones Industrial Average slipped more than 100 points after Federal Reserve Chairman Jerome Powell signaled he was going to raise interest rates to curb inflation.

As of 10:50 p.m. Thai time, the Dow Jones Industrial Average was 33,427.48 points, down 108.43 points or 0.32%.

Mr. Powell said “I understand the impact of high inflation. And let’s pledge that the Fed will not tire of getting inflation under control.”

“Failure to keep inflation down. Not only did the pain drag on But in the end it is also an increase in social costs. We will avoid this by staying true to our goals.”

Powell delivered a speech at the Thomas Laubach Research Conference on Monetary Policy. The Fed will be held in Washington, D.C. today.

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