The stock market started the week on a high note with two rip-roaring rallies, and the S&P 500 witnessed its best day since 2020 on Tuesday. However, the momentum did not sustain. On the other hand, Minneapolis Federal Reserve President Neel Kashkari said that the central bank is quite away from stopping rate hikes to fight inflation.
“Until I see some evidence that underlying inflation has solidly peaked and is hopefully headed back down, I’m not ready to declare a pause. I think we’re quite a ways away from a pause,” he said.
