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The "Tonight Show" host mocked the former president's effort to take credit for the market upswing.
The former president claimed his polls against Biden are "so good that investors are projecting that I will win, and that will drive the market up."
The Dow jumped 512 points, or 1.4%, to top 37,000 and surpass its prior peak of 36,799.65 set at the start of last year.
Powells speech highlighted the uncertainties surrounding the economy and the complexity of the Feds response to it.
WHAT'S HAPPENING
WHAT'S HAPPENING
Fed officials have said they expect at least one more increase this year and then for the benchmark rate to stay elevated through at least early 2024.
Lawmakers and watchdogs think House leadership is trying to tank a ban on congressional stock trading: It would please the voters but hurt their wallets.
Time is running out for a vote, and there's muted opposition from lawmakers who think the restriction is not needed.
Wall Street tumbled into a bear market Monday after fears about a fragile economy sent the S&P 500 more than 20% below its record set early this year.
Rising interest rates, high inflation, the war in Ukraine and a slowdown in Chinas economy have caused investors to reconsider the prices theyre willing to pay for a wide range of stocks.
More steep losses for technology stocks pushed the S&P 500 down 3.6% on Wall Street Friday.
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