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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 | 34054.32 | -245.01 | -0.71% |
| SP500 | S&P 500 | 4225.91 | -20.68 | -0.49% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14047.529196 | -25.33 | -0.18% |
U.S. stocks fell as Chairman Jerome Powell took Q&A.
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