Wall Street mixed after Fed Chair Powell's remarks

US stock indices were highly volatile on Friday after Fed Chair Jerome Powell hinted at further policy tightening in recent remarks.

At Jackson Hall, Jerome Powell said that cutting inflation requires a more flexible labor market, while bringing inflation back to 2% will require less growth than usual.

Lower US rents indicate inflation has fallen down in the US housing sector, and he noted the required and sustained work to control commodity inflation.

Powell said the Fed will continue to monitor prices closely, especially energy and food prices which are still high.

Powell asserted the Fed's commitment to tighten monetary policies to curb inflation, however he cautioned that too much policy tightening could be damaging to the economy.

On trading, Dow Jones rose 0.2%, or 73 points to 34,171, while S&P 500 shed 0.1%, or two points to 4,373, as NASDAQ gave up 0.3%, or 38 points to 13,428.