Stock Market Today: Stocks Slip After Powell Talks Rate Hikes

Powell indicated the central bank could get more aggressive with rate hikes to combat inflation that is "too high."

Fed Chair Jerome Powell
Fed Chair Jerome Powell
(Image credit: Getty Images)

Stocks' positive momentum faded to start the new week after Federal Reserve Chair Jerome Powell said the central bank is prepared to move "expeditiously" towards tighter monetary policy in order to fight inflation.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.