Dow industrials pop up and stock market tries to clamber higher, even as Fed projections point to 3 rate hikes in 2022

Tiger Newspress2021-12-16

U.S. stock benchmarks on Wednesday afternoon were pivoting modestly higher as the Federal Reserve held interest rates steady, as expected, but quickened the pace of wind-down of its bond-buying program, opening the door to interest-rate increases in the first half of 2022.

Projections from the Fed point to three rate increases next year, with the current fed-funds rate at a range between 0% and 0.25%. Fed Chairman Jerome Powell will host a news conference at 2:30 p.m. ET to discuss the central bank's updated policy.

The move to end the stimulus program sooner than officials planned at their meeting last month offers the most concrete sign of how Powell's focus has shifted toward preventing higher inflation from becoming entrenched.

But the updated policy comes as the omicron variant of the coronavirus that causes COVID-19 spreads, sparking fresh concerns about economic recovery and supply-chain bottlenecks that have helped underpin rising inflation.

The Dow Jones Industrial Average popped into positive territory, up 0.3% at 35,645, the S&P 500 index climbed 0.3% to 4,650, and the Nasdaq Composite Index briefly climbed to less than 0.1% higher at 15,269. The 10-year Treasury note yields 1.46% from around 1.44% before the Fed update.

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精彩评论

  • LimLS
    2021-12-16
    LimLS
    Tapering speed and number of hikes for 2022 is within the market expectations. Powell also come out with a speech to help smooth any anxiety. Market is responding well. Let's hope no more bad news and everyone will have a good Christmas rally
  • lewisleeks
    2021-12-16
    lewisleeks
    Oh[Smile] [Smile] 
  • Wkmk
    2021-12-16
    Wkmk
    Like
  • Bodoh
    2021-12-16
    Bodoh
    No worries, the higher interest rates will not add to inflation.
  • seojun
    2021-12-16
    seojun
    Yayyyyyy
  • Gaga71
    2021-12-16
    Gaga71
    The word of an influencer is so powerful 
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