Closing Bell: Powell presser pumps up market, Gary Cohn reacts, Big earnings movers 2/1/23
Closing Bell
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What Happens to the Economy?
Congress must increase the debt ceiling to avoid defaulting on U.S. obligations, says CNN's John Avlon. But if it doesn't, there will be "unintended and unintended consequences," he adds. The consumer is slowing down as stimulus savings are whittling away slowly, Avlon says. There may also be a little bit of wage pressure going on due to more people re-entering the labor market with inflation at 2%.
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