Stocks opened comfortably higher Wednesday, bouncing back from Tuesday's inflation-fueled selloff. Helping lift sentiment were relatively dovish comments from Chicago Fed President Austan Goolsbee, who said investors shouldn't "get amped up" about one Consumer Price Index (CPI) reading that came in higher than expected.
"If you see inflation go up a little bit that doesn't mean that we're not on the target to get to 2%," Goolsbee said while speaking at the Council of Foreign Relations in New York. "We can still be on the path even if we have some increases and some ups and downs."
