Shares of industrial and transportation companies rose slightly in a volatile session as the head of the U.S. central bank tamped down worries about rising interest rates and inflation.
"The economy is a long way from our employment and inflation goals," Federal Reserve Chairman Jerome Powell said in testimony to the Senate Banking Committee. The Fed will therefore continue to support the economy with near-zero interest rates and large-scale asset purchases until "substantial further progress has been made."
U.S. air-safety regulators were considering whether to mandate increased inspections of certain Pratt & Whitney engines before one powering a United Airlines Holdings flight broke apart Saturday over a town near Denver.
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(END) Dow Jones Newswires
February 23, 2021 17:04 ET (22:04 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.