Fed Powell’s press conference, Q&A: Recap

The FOMC raised its inflation outlook to 4.2% but sees a dip in 2022 to 2.2%

The Federal Reserve left rates unchanged at the conclusion of the September meeting but did give a fresh set of clues on tapering, inflation and when rate hikes will begin. 

Stock investors celebrated the outlook which detailed rate hikes could begin in 2022 with at least one hike. As for tapering the timing remains murky and their view on inflation more clear. Policymakers lifted projections for prices to 4.2% but they expect that to abate by 2020 to 2.2%.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35294.76 +382.20 +1.09%
SP500 S&P 500 4471.37 +33.11 +0.75%
I:COMP NASDAQ COMPOSITE INDEX 14897.33971 +73.91 +0.50%

For a full recap of Fed Chairman Powell's press conference and the Q&A click here FOX Business LIVE Updates. Mobile users click here.

CLICK HERE TO READ MORE ON FOX BUSINESS