American Airlines AAL.O jumped 2.9% after it forecast positive cash flow. U.S. monetary policy will offer "powerful support" to the economy "until the recovery is complete," Fed Chair Jerome Powell said on Wednesday in remarks that portrayed a recent jump in inflation as temporary and focused on the need for continued job gains. Trading on Wall Street has been dictated by rising inflation in the past few weeks, with investors fearing that the double whammy from a possible hawkish shift by the Federal Reserve and a spike in coronavirus infections could knock U.S. equities off record highs.