Investors reacted positively to Powell's "slightly dovish" stance on the direction of monetary policy, which allayed fears of interest rates staying higher for longer than expected. Improving Market Trends The Fed, in its last week meeting, voted to hold interest rates at their highest range in 22 years and investors bet that the central bank may be done hiking. Federal Reserve Chair Jerome Powell indicated that some softening in the labor market would likely be necessary to sustain the inflationary downturn (read: Growth ETFs to Shine as Fed Hints at End of Rate Hike Era).