The SPDR S&P 500 ETF Trust (NYSE:SPY) broke a three-week losing streak this week as the latest commentary from Federal Reserve Chair Jerome Powell suggests the Fed will continue to aggressively combat inflation.
On Thursday, Powell said the Fed remains "strongly committed" to fighting inflation, and reassured Americans the central bank will continue to raise interest rates "until the job is done." The bond market is pricing in an 86% chance the Fed will issue its third consecutive 0.75% interest rate hike later this month.
