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The Dow Jones Industrial Average climbed 250 points Thursday morning as stocks attempted to stabilize after a sharp sell-off the previous session, when new Federal Reserve Chair Kevin Warsh signaled a hard line against inflation that dashed investor hopes for near-term interest-rate cuts.
The bounce marked a tentative effort to reclaim lost ground, with markets still processing the policy shift from the Fed's new leadership.
Warsh's Anti-Inflation Stance Resets Rate-Cut Expectations Warsh, newly installed as Fed chair, delivered remarks investors read as a clear departure from any accommodative path.
His tough posture on inflation — prioritizing price stability above other considerations — signaled the Fed sees no compelling reason to lower borrowing costs soon.
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