Stock futures dipped slightly in overnight trading after the Federal Reserve raised inflation expectations and forecast rate hikes as early as 2023.
Futures on the Dow Jones Industrial Average fell 61 points, or 0.18%. S&P 500 futures edged 0.24% lower and Nasdaq 100 futures shed 0.29%.
Markets rallied off their intraday lows after Fed Chair Jerome Powell said projections for future rate increases should be "taken with a big grain of salt" and reiterated that he believes that inflation is transitory. "You can think of this meeting that we had as the 'talking about talking about' meeting, if you'd like," Powell said when asked about tapering. "I now suggest that we retire that term, which has served its purpose."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wharton’s Jeremy Siegel sees Fed 'dot plot' shift toward tightening, expects stock decline'I think you're going to see a big shift in the dots to a more aggressive tightening stance,' Wharton's Jeremy Siegel told CNBC ahead the Fed meeting's end.
Read more »
Fed gives money funds relief with short-term rate adjustmentsThe Federal Reserve on Wednesday gave relief to money market investors that have been struggling to find high-quality short-term assets by raising two key short-term rates.
Read more »
Fed holds interest rates steady, raises inflation forecastThe Fed dramatically raised its forecast for inflation and shifted up the timeline for a rate hike.
Read more »
Asia circles the wagons ahead of Fed, oil eyes 2019 highAsian shares retreated slightly on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money.
Read more »
Stocks fall from records ahead of Fed decision on ratesU.S. stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets.
Read more »
European markets head for higher open as markets await Fed outcomeEuropean stocks are expected to open slightly higher, as markets await the outcome of the U.S. Federal Reserve's policy meeting on Wednesday.
Read more »