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U.S. Stocks Regain Ground Despite Concerns About Global Growth

Speaking at the Economic Club in Washington, Mr. Powell said the economy is on solid footing and there are few signs a recession is imminent, but the Federal Reserve isn’t committed to a set course of rate increases, echoing a more market-friendly tone the central bank has taken since a punishing fourth-quarter selloff nearly upended the long-running bull market. The Fed is open to quickly altering its pace, especially with inflation remaining subdued, he said. “We are in a place where we can be patient and flexible and see what does evolve,” added Mr. Powell.