# Stocks rally, dollar slumps after Fed statement, Powell remarks | Reuters

> Stocks rallied and the dollar slumped on February 1 after the Federal Reserve raised rates 0.25% and Powell said the economy showed modest growth while the Fed stayed attentive to inflation risks. Markets had priced in the possibility of a rate pause.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/37526-stocks-rally-dollar-slumps-after-fed-statement-powell-remarks-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar after the Fed's signal supports dollar-priced commodities and improves overseas buying power, which can lift grain and oilseed futures.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-30 | [US dollar falls on dovish remarks by Fed's Powell](https://feedsoft.ai/events/32901-us-dollar-falls-on-dovish-remarks-by-fed-s-powell.md) | +0.6% | -1.2% |
| DXY | 2025-02-11 | [Dollar falls as tariff concerns ease, Fed's Powell stays patient on rate cuts \| Reuters](https://feedsoft.ai/events/25966-dollar-falls-as-tariff-concerns-ease-fed-s-powell-stays-patient-on-rate-cuts.md) | -1.0% | -2.0% |
| DXY | 2026-07-29 | [Dollar slips as Fed holds rates steady \| Reuters](https://feedsoft.ai/events/8418-dollar-slips-as-fed-holds-rates-steady-reuters.md) | -0.9% | -2.0% |
| DXY | 2023-01-27 | [Stocks, dollar gain on allure of Fed soft landing \| Reuters](https://feedsoft.ai/events/37972-stocks-dollar-gain-on-allure-of-fed-soft-landing-reuters.md) | -0.6% | +2.1% |
| DXY | 2023-10-19 | [Dollar dips on dovish Powell comments \| Reuters](https://feedsoft.ai/events/33814-dollar-dips-on-dovish-powell-comments-reuters.md) | -0.0% | -2.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/global-markets-wrapup-1-2023-02-01/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.