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Powell Is Scaring No One on Wall Street as Market Gains Broaden
Anyone betting that a hawked-up Jerome Powell would strike fear on Wall Street this week was left disappointed. Stubborn resilience in bonds, commodities and the broader universe of stocks — with a fresh surge in crypto — were the defining features of the trading landscape as the Federal Reserve chair delivered hours of congressional testimony. While Powell did little to clarify a firm schedule for lowering interest rates, one proxy for cross-asset performance — the RPAR Risk Parity exchange-traded fund that holds bets on fixed income, commodities and equities — eked out its best advance of the year. An ETF ... (full story)