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In a widely anticipated move, the Federal Reserve on Wednesday announced its decision to raise interest rates by another quarter point. The Fed decided to raise the target range for the federal funds rate by 25 basis points to 5 to 5.
MARKET MOVEMENTS: --Brent crude oil is down 0.6% at $78.87 a barrel --European benchmark gas is down 2% at EUR38.56 a megawatt hour --Gold futures are 0.1% higher at $1,994 a troy ounce... | May 2, 2023
The Japanese yen climbed against its major counterparts in the New York session on Tuesday amid risk aversion, as investors awaited the Federal Reserve's decision on interest rates and digested warning on the nation's debt ceiling impasse.
"Even though it might be rough over the next three to six months, unless you're very tactical and very short-term, I'm not a seller," Wharton professor Jeremy Siegel said.
And the U.S. is reportedly opposing Ukraine's path to join NATO.