The more Powell speaks, the more stock and bond markets rally

When the Fed chairman took to the podium Wednesday afternoon, stock markets were hovering around their session lows. By the time Powell was done speaking some 45 minutes later, stocks had soared. — Reuters

NEW YORK: Behind closed doors, Federal Reserve (Fed) policymakers worry rallying markets are impeding their efforts to control inflation.

But every time Jerome Powell goes out in public he gives them more room to run.