Stock Market Today-6/23: Stocks Edge Higher Despite Recession Risk

Stock Market Today-6/23: Stocks Edge Higher Despite Recession Risk

Updated at 7:47 am EST

US equity futures edged higher Thursday, while oil prices and Treasury bond yields resumed their recent slides, as investors heeded Federal Reserve Chairman Jerome Powell’s warning that a near-term recession in the world’s biggest economy is possible.

Speaking in front of the Senate Banking Committee on Capitol Hill yesterday, Powell reiterated that the Fed’s inflation fight, which includes higher rates and a pullback in liquidity, isn’t designed to “provoke’ a recession, although he conceded that it was “certainly a possibility”.

.

Leave a Comment

Your email address will not be published.