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 | 38675.68 | +450.02 | +1.18% |
SP500 | S&P 500 | 5127.79 | +63.59 | +1.26% |
I:COMP | NASDAQ COMPOSITE INDEX | 16156.328018 | +315.37 | +1.99% |
CLICK HERE TO READ MORE ON FOX BUSINESS
Find a recap of Powell's Q&A here on the FOX Business Blog. Mobile users click here.
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