Stock Market Update
22-May-26 12:35 ET
Kevin Warsh sworn in as Fed Chair
Dow +432.38
at 50718.04,
Nasdaq +129.30
at 26443.40,
S&P +42.92
at 7488.64
[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.6%), and DJIA (+0.9%) continue to chart session highs.
Kevin Warsh has been sworn in as Chairman of the Federal Reserve, with President Trump telling Kevin Warsh to be "totally independent" and telling him to "not to look at me; just do your thing."
On a related note, Fed Governor Chirstopher Waller said earlier today "I am going to need to see improvement on inflation or a significant deterioration in the labor market before I would consider reducing the policy rate."
There is now a 56.2% probability that there will be at least a 25-basis-point hike to 3.75-4.00% at the October FOMC meeting, up from 45.6% yesterday, according to the CME FeedWatch Tool.
