Fed Issues Tenth Consecutive Rate Increase, Considers Pausing Additional Hikes
The Federal Reserve delivered a widely anticipated quarter of a percentage point rate hike Wednesday, marking the tenth consecutive increase since March 2022.
Yesterday’s move lifted the Fed's benchmark overnight interest rate to the 5.00%-5.25% range, making it more expensive for consumers and businesses to borrow in the ongoing fight against inflation.
U.S. stocks are under pressure so far Wednesday following the latest rate hike. The S&P 500 and the Dow Jones Industrial Average were both down by 0.3% as of this writing. The Nasdaq Composite was fractionally lower...
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