Fed statement, inflation update and Powell press conference: RECAP
A March rate hike would be the first in 3 years
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 | 42690.82 | -234.07 | -0.55% |
SP500 | S&P 500 | 5831.38 | -19.82 | -0.34% |
I:COMP | NASDAQ COMPOSITE INDEX | 18472.847214 | -100.28 | -0.54% |
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Find a recap of Powell's Q&A here on the FOX Business Blog. Mobile users click here.