Fed Bumps Rates By a Quarter-Point Despite Pressure From Trump

1391
interest rate
Federal Reserve Chairman Jerome Powell speaks during a press conference at the White House with Donald Trump.

The Federal Reserve decided on Wednesday to raise its benchmark interest rate by a quarter of a point for the fourth time this year and are looking to raise it two more times in 2019, lowering it from previous estimates of three times in 2019.

Major indices reversed from positive territory and are now trading slightly down to flat on the day. Expect markets to be volatile the rest of the day as investors position their portfolios accordingly.

IMAGE CREDIT

NO COMMENTS

LEAVE A REPLY