Stock market news today: Fed pauses tightening but eyes hikes later

US stock indices finished mixed after a volatile session that saw big swings after the Federal Reserve's policy meeting.

Central bankers kept rates steady at 5%-5.25% but indicated in their"dot plot" projections that two more increases could come later this year, a more hawkish signal than what Wall Street anticipated. During his press briefing, Fed Chairman Jerome Powell also said progress on slowing core inflation has been insufficient lately and that rate cuts would be more appropriate to consider"a couple of years out."

Meanwhile, policymakers will assess incoming data, including credit conditions that may have a role in tightening macroeconomic conditions, he added.

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