By Caroline Valetkevitch
NEW YORK (Reuters) – U.S. stocks ended a volatile session higher on Friday as investors digested comments from Federal Reserve Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.
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Powell also acknowledged that price pressures have eased in his much-anticipated morning speech at the Economic Policy Symposium at Jackson Hole, Wyoming.
The major U.S. indexes, which started the day with solid gains, alternated between extending and paring those gains for much of the session.
Powell “is demonstrating that he is pleased with how far monetary policy has come and how inflation has been reduced. But he is still holding on tightly to this notion that they are watching it carefully and they still have work to do,” said Michael Arone, chief investment strategist at…
