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Wall St set to rise as Powell calms taper fears

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Reuters

By Devik Jain and Shreyashi Sanyal (Reuters) – Wall Street’s main indexes were set to rise on Wednesday after comments from the Federal Reserve fueled hopes the central bank would stick to its accommodative monetary policy despite a sharp jump in inflation last month. Fed Chair Jerome Powell reassured investors that the U.S. job market “is still a ways off” from the progress the central bank wants to see before reducing its support for the economy, and current high inflation will ease “in coming months,” in comments prepared for delivery at a congressional hearing on Wednesday. Data on Wednesd…

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