Stock market news today: Fed signals pause after latest rate hike

US stocks closed lower on Wednesday after the Federal Reserve hiked interest rates again and signaled further increases may not be coming.

The Fed lifted rates by 25 basis points, as was widely expected, marking the 10th increase in borrowing costs since March 2022. But subsequent remarks from Chairman Jerome Powell may have dampened hopes for a Fed pivot to rate cuts later. He reiterated that US inflation is still high, and said the odds for avoiding a recession seem greater than than those for entering a recession. 's results slated to be released after market close on Thursday.

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