Wall Street falls on rate hike worries

Published by

By Johann M Cherian (Reuters) – U.S. main stock indexes slipped on Wednesday as comments from certain Federal Reserve officials exacerbated worries that the central bank will keep hiking interest rates this year. New York Federal Reserve President John Williams backed views of a peak rate of 5.00%-5.25%, higher than what markets expect, after Fed Chair Jerome Powell acknowledged on Tuesday that the battle against inflation will take quite a bit of time. Money market participants are now betting the U.S. central bank’s benchmark rate to rise above 5% in May before peaking to 5.18% by July, leve…

Read More

See also  Silver Spring Pathfinder’s Secret to Innovation: Avaya Experience Platform

Leave a Reply