US STOCKS-Wall Street returns to positive stance after brief post-Fed wobble
Wall Street's main indexes returned to positive territory in mid-afternoon trading on Wednesday after a brief wobble in the immediate aftermath of the Federal Reserve's rate announcement which had also forecast rates remaining higher for longer. At the end of its two-day meeting, the Fed lifted its policy rate by 75 basis points for the third time to a 3.00-3.25% range. Most market participants had expected such an increase, with only a 21% chance of a 100 bps rate hike seen prior to the announcement.
Published:9/21/2022 2:00:33 PM