Central bank on Wednesday delivered a 75 basis point interest rate hike, but chairman Jay Powell dashed hopes he would soon pause increasing borrowing costs.
U.S. stock futures struggled to make headway Thursday as traders absorbed the fallout from the latest Federal Reserve interest-rate decision.
What’s driving markets Stock indices were striving to stabilize on Thursday after yet another very choppy session in the wake of the Federal Reserve’s latest policy announcement. The S&P 500 is down 21.1% in 2022 as the Fed has raised borrowing costs from effectively zero since the start of March. “The challenge for the Fed will be to communicate to the market its desire to keep monetary policy and financial conditions tight over the medium term. It may do this by continuing to deploy hawkish rhetoric,” said Bayston.
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