Home Market News Fed Chair Powell: We Are Not in a Recession… Yet

Fed Chair Powell: We Are Not in a Recession… Yet

by Vidya

Stocks rose after the Federal Reserve announced its intentions to raise interest rates by three-quarters of a percentage point for the second consecutive time to combat record-high inflation. The S&P 500 climbed 2.5% in afternoon trading on Wednesday, following the Fed’s announcement. Meanwhile, the Dow went up 1.4%, and the tech-heavy Nasdaq Composite rose almost 4%.

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