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Wall Street hits new highs after Fed extends stimulus package

Head of US central bank had been expected to announce Covid programme would be tapered off

Share prices hit fresh records on Wall Street on Friday after the head of the US central bank, Jerome Powell, expressed concern about rocketing Covid-19 infections and gave no new clues on when the Federal Reserve would start to ease back on its stimulus programme.

Speaking at the virtual gathering of central bankers at Jackson Hole in Wyoming, the Fed chairman said that, while the economy was recovering from the pandemic, he and his fellow policymakers were carefully monitoring the impact of the Delta variant of the coronavirus.

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Read the original article at The Guardian

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