Stock Market Today: Powell's Presser Pumps the Market's Brakes

The Federal Reserve expectedly kept rates near zero Wednesday, but Fed Chair Jerome Powell's ensuing commentary took traders for a small whirl.

Jerome Powell
(Image credit: Getty Images)

Federal Reserve Chair Jerome Powell gave investors reason for pause on Wednesday afternoon in a modestly lower day for stocks.

The Fed itself, following its latest two-day policy meeting, announced it would keep its benchmark rate near zero, stating that "indicators of economic activity and employment have strengthened" amid policy support and progress on COVID vaccinations.

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Kyle Woodley was long BA as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.