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On the SPOT™ blog (02/07/2023) [G..]

Federal Reserve Chairman's interview today seems to have had a +ve impact on the markets. He reiterated that the process of disinflation (inflation level dropping) has suggested that we are still in the early phase and far from declaring victory over inflation. He saw inflation cooling in the goods sector and perhaps not yet in service sector. He also mentioned that given the strong labor market, Feds might have to continue to stay aggressive in keeping inflation low and were making decisions that were data driven. While this was largely expected from his comments after the FOMC meeting, investors perhaps liked that his comments did not carry an adverse tone. Markets fluctuated before, during and after the interview and all three major US indices finished the day in solid green.

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