Fed doves” U.S. stocks close higher, Dow breaks 33,000 mark

The Federal Reserve Board “doves” again, the three major U.S. stock indexes closed high, the Dow rose 189 points to close at 33,015 points, for the first Time in history rose through the 33,000-point mark; the S&P rose 3,974 points; Nasdaq also rose 0.4% to 13,525 points.

Federal Reserve Chairman Powell said that the economic situation in the next 2 to 3 years has considerable uncertainty, to wait until the economic data materially improve, before tightening monetary policy. In addition, the Federal Reserve’s latest forecast shows that most officials expect to the end of 2023 still will not raise interest rates.

However, Wells Fargo said strategist Mike Schumacher said Powell did not use any wording to depress long-term U.S. debt rates, and the accommodative policy and the huge supply of Treasuries will continue to drive up Treasury yields. He expects the 10-year U.S. bond yield could rise to 1.75% in a few weeks and reach 2% by the middle of the year.