![]() ![]() The central bank appeared to soften its language about future rate increases by dropping a line from the March statement that said, "the Committee anticipates that some additional policy firming may be appropriate." However, traders noticed what the Fed didn't say this time in its post-meeting statement. "In determining the extent to which additional policy firming may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," the Fed said in a statement. The indexes notched three-day losing streaks.Įarlier bullish sentiment was dented somewhat after Fed Chair Jerome Powell ruled out cutting interest rates because he did not expect inflation to come down quickly enough. The Nasdaq Composite slid 0.46% to close at 12,025.33. The Dow Jones Industrial Average closed lower by 270.29 points, or 0.80%, to end at 33,414.24. Stocks fell Wednesday after the Federal Reserve raised rates by 25 basis points, as was widely expected. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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