Stocks Spike After Powell Admits No Rate Hikes Unless “Significant Move Up In Inflation”

“Goldilocks” it is…

Fed Chair Powell suggested that rates are on hold, and further reinforced that by stating that rates won’t rise unless inflation takes off…

“I think we would need to see a really significant move up in inflation that’s persistent before we even consider raising rates to address inflation concerns.”

Equity algos loved that headline and spiked markets into the green…

And sent the dollar back down…

Source: Bloomberg