Fed chair plans to drop interest rates as 'inflation has decline significantly'

Federal Reserve Chairman Jerome Powell addressed the current state of the economy, focusing on inflation and labor market conditions. He indicated that interest rates are likely to decrease soon, as inflation risks have lessened and employment risks have increased. Powell emphasized the need for policy adjustments based on incoming data. The announcement was well-received by the stock market, with the Dow Jones showing significant gains.

What does Powell suggest about the future of interest rates?

How did the stock market react to the news shared by Powell?