Stock futures rose slightly to kick off the final trading week of August.
advanced about 0.9%. Both the broad-based and tech-heavy index notched their first winning week in four, adding about 0.8% and 2.3%, respectively.
Speaking Friday at the annual central bank conference in Jackson Hole, Wyoming, Powell pointed to some signs of continued economic growth and strong consumer spending, but indicated that the central bank would"proceed carefully" with additional hikes.Powell said in prepared remarks ."We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective."
As of Sunday evening, traders are pricing in a nearly 20% chance that the Fed will hike rates again at its upcoming September meeting. "The intention of remaining restrictive still holds this year until the Fed is confident that inflation is starting to move closer to their target," said Brian Price, head of Investment Management at Commonwealth Financial Network.
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