Philadelphia Federal Reserve President Patrick Harker joined CNBC’s „Squawk Box“ to discuss the central bank’s new inflation goal.

While markets rallied on the sentiment that the new policy would keep short-term rates anchored near zero well into the future, there also was plenty of skepticism that the Fed would be able to reach its goal.

It sure looks like the market is endorsing an economic rebound.

The stocks making the biggest moves in premarket trading include Coca-Cola, Big Lots, Gap, Workday, and more.

The Fed will have to keep supporting the economy as the recovery from the pandemic „is going to be a slow one,“ a top official at the central bank said.

Gap Inc. said Thursday its total sales tumbled 18% during the latest quarter, as e-commerce revenue surged 95% from a year ago, but those gains were offset by a 48% drop in store sales during the coronavirus pandemic.

Workday will have a dual CEO structure for the first time since one of its co-founders, Dave Duffield, stepped down in 2014.

„As long as you can reduce fixed costs, this shift to digital can be profitable,“ Abercrombie & Fitch CFO Scott Lipesky said in a phone interview.

The SEC approved a new type of direct listing where companies can simultaneously go public and raise cash from public market investors.

CNBC’s Jim Cramer said that Powell basically signaled, „‚Hey guys, just go. Go get the economy back. I am not going to get in the way of it.'“