Fed Open Market Committee announces decision on interest rates; Fed chair Powell holds press briefing
Federal Reserve policymakers maintained near-zero interest rates but signaled a hike will come in 2023, with some members even leading to a move as soon as 2022.
As for inflation, it is “transitory” despite consumer and producer prices which surged in May prompting inflation fears.
HOMEBUILDING BOUNCES BACK AS LUMBER PRICES COOL
Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 34005.97 -293.36 -0.86%SP500 S&P 500 4211.37 -35.22 -0.83%I:COMP NASDAQ COMPOSITE INDEX 13952.404441 -120.45 -0.86%
U.S. stocks fell ahead of Chairman Jerome Powell’s live press conference at 2 pm ET.
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