LIVE: Fed decision reaction, Powell Q&A recap
Consumer Prices jumped 5%, Producer Prices 6.6% in May
The Fed says inflation is up due to 'transitory' factors
A 'Making Money' panel with Gary Kaltbaum, Nancy Tengler and Phil Blancato react to the FOMC decision.
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 | 48488.59 | -870.74 | -1.76% |
| SP500 | S&P 500 | 6796.86 | -143.15 | -2.06% |
| I:COMP | NASDAQ COMPOSITE INDEX | 22954.322403 | -561.07 | -2.39% |
U.S. stocks fell as Chairman Jerome Powell took Q&A.
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