Fed’s Powell talks inflation, interest rates

November consumer prices surged 6.8%, producer prices 6.9% highest in decades

Federal Reserve Chairman Jerome Powell delivered his final press conference of the year after policymakers wrapped Wednesday's meeting. 

CONSUMERS ARE GETTING WHACKED WITH HIGH PRICES FOR THESE ITEMS

Policymakers stepped up the dialing back of its aggressive bond-buying program, signaling at least three rate hikes in 2022. Expectations for inflation were also ratcheted up after both consumer and producer prices hit record highs this week. 

Stocks soared on the developments. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35911.81 -201.81 -0.56%
SP500 S&P 500 4662.85 +3.82 +0.08%
I:COMP NASDAQ COMPOSITE INDEX 14893.75271 +86.94 +0.59%

CONSUMER INFLATION HITS HIGHEST SINCE 1982

See a recap of Powell's press conference and all the market-moving events in the FOX Business Blog. Mobile users click here.