1 month ago
Korea Times
Stocks turned lower on Wall Street and Treasury yields rose in afternoon trading Wednesday after the Federal Reserve raised its benchmark interest rate and signal more hikes ahead. AP-YonhapA bumpy day of trading on Wall Street ended with stocks broadly lower Wednesday after Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead. The Fed also said it expected to raise rates higher over the coming few years than it had previously anticipated. He also said that how fast the Fed raises rates is not so important now. That suggests the Fed is prepared to raise rates by an additional 0.75 percentage points next year.
Continue reading...
