US stocks rally but close off highs on signs of persistent Fed hawkishness and labor-market tightness

Jan 4 2023 by Business Insider

 
Federal Reserve Chair Jerome Powell.

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US stocks rose Wednesday but closed off session highs as fresh signs pointed to more Fed hawkishness.  Minutes from the Fed's December meeting indicated rates could stay higher for longer.  Meanwhile, job openings topped views, signaling that the labor market remains tight.

US stocks rose Wednesday but closed off session highs as fresh signs pointed to more hawkishness from the Federal Reserve. 

Minutes from the Fed's December...

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