Stock Rally Fizzles After Fed Chair Powell's Inflation Remarks: Closing Bell
June 18, 2025
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10:06Now PlayingStock Rally Fizzles After Fed Chair Powell's Inflation Remarks: Closing Bell
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as posted by the channelWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Carol Massar and Tim Stenovec.
A rally in stocks fizzled out after Federal Reserve Chair Jerome Powell warned that tariff-driven economic uncertainty and inflation risk continued to complicate the central bank’s bid to ease monetary policy in earnest. Gains in bonds waned. The dollar barely budged.
Equities closed little changed, with the S&P 500 ending below 6,000 after briefly crossing that mark. Powell noted that increases in tariffs are likely to boost prices, while adding that the effects on inflation could be more persistent. He also declined to say if he’ll stay on after his term ends. Treasury two-year yields, which are more sensitive to imminent Fed moves, almost erased a decline that had earlier reached seven basis points.
The Fed’s decision to hold rates steady – coupled with Powell’s latest warning on tariffs – underscores the delicate balance facing policymakers guiding the economy toward continued economic expansion. While officials continued to pencil in two rate cuts in 2025, they also downgraded their estimates for economic growth this year while lifting their forecasts for unemployment and inflation.
Traders also kept a very close eye on geopolitics, with President Donald Trump saying he’d hold another meeting Wednesday to discuss the conflict in the Middle East. Asked earlier in the day if he was moving closer to bombing Iran, Trump said “I may do it. I may not do it.”
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