U.S. Stocks Struggle Near Record; Treasuries Rally: Markets Wrap
- Fed leaves main rate unchanged, saying policy is appropriate
- Powell stresses Fed not comfortable with inflation under 2%
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U.S. stocks struggled near record highs on speculation that a recent rally outpaced the risks to global economic growth. Bonds climbed.
The S&P 500 Index wiped out an early advance after Federal Reserve Chairman Jerome Powell said that uncertainties about the outlook remain -- including those around trade policy and the coronavirus. Meanwhile, Treasuries extended gains after he noted that the committee revised the language about inflation to clarify that policy makers aren’t comfortable with it below 2%.