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60-Year Wall Street Veteran Says S&P 500 Will Sink to 3,100

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Associated Press

Powell: ‘No guarantee’ Fed can tame inflation, spare jobs

Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can achieve a so-called soft landing — raising interest rates just enough to slow the economy and rein in surging consumer prices without causing a recession and sharply raising the unemployment rate. ECB President Christine Lagarde echoed the “major impact” of energy shocks, which are rippling worldwide but felt acutely in Europe because of its reliance on Russian oil and natural gas.

Market Snapshot: S&P 500 falls for 3rd straight day after Powell says no guarantee of soft landing for U.S. economy, JP Morgan warns of recession risk

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