Stock Benchmarks Close Up More Than 2% on Powell Remarks

(Bloomberg) -- Thanks, Chairman. For just the fourth time this year, all three major U.S. stock indexes closed up more than 2 percent. Federal Reserve chief Jerome Powell’s remarks Wednesday that interest rates are “just below” the range of a neutral policy struck a dovish tone with equity investors and fueled speculation that the central bank is closer than thought to pausing on U.S. hikes.

To contact the reporter on this story: Nancy Moran in New York at nmoran@bloomberg.net

To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Brandon Kochkodin

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