Page 34 - Fomc News Today

"This week will likely have been the last active week of the year, but it turned out to be quite eventful," according to Barclays PLC.

U.S. stocks that made significant gains prior to the Federal Reserve's decision to hike interest rates by a half-percentage point on Wednesday reversed course soon after.

U.S. stocks that made significant gains prior to the Federal Reserve's decision to hike interest rates by a half-percentage point on Wednesday reversed course soon after.

The December FOMC meeting is over, the policy statement is out, and Fed chair Jerome Powell has provided his views about the future direction of monetary policy for 2023.

The BSE Sensex is trading down 400 points or 0.6% to 62,254, giving up yesterdays gain, whereas Nifty-50 shed almost 120 points or 0.6% and trading down at 18,542 as of 12:30 pm

Outflows returned as Refinitiv Lipper reported $1.217 billion was pulled out of municipal bond mutual funds for the week ending Wednesday after $46.912 million of inflows the week prior.

The CPI report showed inflation had slowed to 7.1%, giving investors confidence the Federal Open Market Committee will hike rates 50 basis points as expected following Wednesday's much-anticipated meeting.

The Fed chairman said he believes the Fed is getting close to a sufficiently restrictive level, but they're not quite there. While two good inflation reports are good, "there's still a long way to go to price stability."

The Federal Reserve conducted a smaller interest rate hike than in recent months, indicating that the central bank is confident its actions are starting to work to lower inflation and that it hopes to avoid a recession.

U.S. stocks that made significant gains prior to the Federal Reserve's decision to hike interest rates by a half-percentage point on Wednesday reversed course soon after.