S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes [Reuters]
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Source: Reuters
S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes By Caroline Valetkevitch 3 Min Read NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates. Keeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth. In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks. “It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & As
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