Fed says near zero interest rates to remain thru 2022. But GDP will soar

WASHINGTON – Wednesday trading action has pivoted all day on the actual or speculated news due to come from the Federal Reserve at 2 p.m. And now that the news is coming out, courtesy of a presentation by Fed Chair Jerome Powell, stocks have decisively decided to continue wavering. Powell had good news on sustaining near zero interest rates – except for how that might affect US banks. But they also had some positive, if time-delayed news on the US GDP as well.Back to Wall Street for a moment, stocks and major averages resumed Tuesday’s weird trading pattern Wednesday. The seemingly evergreen, …

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