FOX Business’ Cheryl Casone reports on the Federal Reserve’s first policy-setting meeting of the year, where the Federal Open Market Committee also reaffirmed its commitment to withdrawing its asset purchase program.
The Federal Reserve on Wednesday laid the groundwork for a rate hike in March, while also reiterating supply chain issues are contributing to red-hot inflation.
During Fed Chairman Jerome Powell's press conference stocks lost momentum, with all three of the major averages falling.
WHERE INFLATION IS HITTING CONSUMERS THE HARDEST
|Ticker ||Security ||Last ||Change ||Change %|
|I:DJI ||DOW JONES AVERAGES ||32637.19 ||+516.91 ||+1.61%|
|SP500 ||S&P 500 ||4057.84 ||+79.11 ||+1.99%|
|I:COMP ||NASDAQ COMPOSITE INDEX ||11740.650441 ||+305.91 ||+2.68%|
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Find a recap of Powell's Q&A here on the FOX Business Blog. Mobile users click here.