“We expect as the economy reopens and hopefully picks up, we will see inflation move up through base effects,” Powell said during a Wall Street Journal conference. “That could create some upward pressure on prices.”
Furthermore, futures on the Dow Jones Industrial Average surged 315 points. S&P 500 futures rose 1.1%, while NASDAQ 100 futures gained 1%. Energy stocks such as Occidental Petroleum surged 3%.
The stocks saw an increase following the economic comeback because of February’s jobs report.
