Federal Reserve Chairman Jerome Powell delivered his final press conference of the year after policymakers wrapped Wednesday's meeting.
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.
|I:DJI||DOW JONES AVERAGES||35911.81||-201.81||-0.56%|
|I:COMP||NASDAQ COMPOSITE INDEX||14893.75271||+86.94||+0.59%|