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Stock market news today: Dow and S&P 500 updates

Jerome Powell: Folks, this ain t the 1970s From CNN Business David Goldman Jerome Powell isn t sure how many more ways he can say it: Inflation just isn t a problem right now. Sure, rates are near zero and are expected to stay there for years. But the Fed has been saying for a year that it doesn t expect inflation to pick up to its target 2% range for quite some time. That s neither a problem nor a benefit, Powell said. Powell noted that inflation has been largely absent from the economy for three decades, and we ve had the longest two expansions during that time period. Higher inflation can help businesses raise prices and boost economic activity. But low inflation means the Fed can afford to keep rates low to give businesses a break.

CNN Business: US stocks set to continue their rally

CNN Business and Moody’s Analytics have partnered to create a  proprietary Back-to-Normal Index. It shows which states are closest and furthest from returning to their pre-pandemic economy.  close dialogBefore markets open. Start your day smart.Get essential news and analysis on global markets with CNN Business’ daily newsletter.Email AddressSign UpNo, thanks.By subscribing, you agree to our Privacy Policy4 PostsSORT BYLatestOldest 50 min ago From CNN Business’ Jordan Valinsky Chili’s owner  Brinker International (EAT) said it’s withdrawing its second-quarter outlook because of the pandemic that’s forcing dining rooms in some states to close or limit capacity … again.

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