Stocks show Jerome Powell is still Wall Street’s head of state4 min read . Updated: 07 Nov 2020, 11:19 AM IST
- Now, with hopes of a multitrillion-dollar stimulus package fading after Democrats failed to secure both houses of Congress, markets are back to pinning their hopes firmly on the central bank’s largesse.
Hopes for a fat new package of government spending to plump the American economy looked to be a casualty of the election, with odds pointing to divided government. That left Jerome Powell the once and future king of markets, a regime stock investors are showing they can live with.
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