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Major stock indices take it on the chin today. Weaker than expected data/hawkish Fed hurt.
You asked for it. You got it.
The Fed does not like rising assets like stocks as they continue to worry about inflation. More stock wealth will just encourage spending and speculation. The reality is the Fed created the speculation way back when they ignored inflation. Now they are trying to make up for it.
So yesterday, the surprised the market by raising the terminal rate to 5.1% from 4.6% when they last estimated. That was above the market expectations.
Today the stock m... Read More
Posted: Dec 15 2022, 21:12
Author Name: forexlive
Views: 111699