LIVE: Fed decision reaction, Powell Q&A recap

Consumer Prices jumped 5%, Producer Prices 6.6% in May

Federal Reserve policymakers maintained near-zero interest rates but signaled a hike will come in 2023, with some members even leading to a move as soon as 2022.

As for inflation, it is "transitory" despite consumer and producer prices which surged in May prompting inflation fears. 

HOMEBUILDING BOUNCES BACK AS LUMBER PRICES COOL

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34935.47 -149.06 -0.42%
SP500 S&P 500 4395.26 -23.89 -0.54%
I:COMP NASDAQ COMPOSITE INDEX 14672.677608 -105.59 -0.71%

U.S. stocks fell as Chairman Jerome Powell took Q&A. 

Follow the recap and market reaction in the FOX Business Blog. Mobile users click here.

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