U.S. stocks fell in volatile trading Wednesday after the Federal Reserve delivered its seventh and final interest rate increase of 2022 and Chair Jerome Powell asserted in hawkish remarks that further tightening is underway.
The central bank lifted its key policy rate by half a percentage point, slowing the pace from hikes of 75 basis points across the prior four meetings. The move brings the federal funds rate to a new range of 4.25% to 4.5%, the highest level since December 2007.
The S&P 500…
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