Stocks could build on Fed rally, but volatility is not going away

U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022.
Graeme Jennings | Reuters

Federal Reserve Chair Jerome Powell sparked a massive stock market rally when he signaled the central bank is not expecting to raise rates as aggressively as some investors feared and that it still expects a soft landing for the economy.