US stocks sink as Fed signals it will remain aggressive

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JUST IN: The Dow tumbles more than 760 points in the wake of the Federal Reserve's rate hike seeking to cool the economy and dial back inflation.

A currency watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 15, 2022. Asian shares skidded Thursday after a retreat on Wall Street as markets registered their dismay over the Federal Reserve’s warning that more interest rate hikes are in store following its latest increase.

Small company stocks also fell. The Russell 2000 index slid 45.85 points, or 2.5%, to close at 1,774.61. The federal funds rate stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the central bank’s rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn't call for a rate cut before 2024.

“The market’s reaction is now factoring in a recession, and rejecting the possibility of the ‘soft/softish’ landing” that Fed Chair Jerome Powell raised in a speech last month, said Quincy Krosby, chief global strategist for LPL Financial. The central bank has been fighting to lower inflation at the same time that pockets of the economy, including employment and consumer spending, remain strong. That has made it more difficult to rein in high prices on everything from food to clothing.

 

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I was under the impression that inflation was transitory.

TRUTH SOCIAL IS BIGGER THAN TWEETERS

Silly panic

Didn’t Biden just say how well all of these are doing? Not true it appears

Life Goes On

Here we go again, that volatile casino that is the stock market never seems to shock me. The stock market, which was actually a pretty good idea, has been taken over by the big banks and the wealthy, and now it’s just a place that cannot be trusted.

Is ABC news going to do a report about how much money the Fed is now losing per month and when the Fed is going to be insolvent. What happens when the Fed is insolvent and headed toward bankruptcy? Do they go to the US govt whose debt they have been monetizing for a bailout?

finrafraud $mmtlp

GMA

Hi ₩orld, I'm Tumblr, Mr._.Do₩ Nasdaq MarketWatch DowJones

Inflation occurs due to corporations taking advantage of supply delays and price gouging Americans through monopolies into what has become the highest profit margins they have had in decades.

GMA This always seemed strange to me..raise a rate such as mortgages to 10%.. so the working poor can’t buy a house.. a car.. yay.

My IRA is whimpering.

LetsGoBrandon

What a wack way of running an economy

Let’s Go Brandon

Does 'cool the economy' mean seeing everyone on LinkedIn out of a job? Gotta love the use of wording here.

This is what Powell wants. To kill the economy so that he gets his magical inflation number.

It’s still above 30

Bidens presidency is a failure. The stock market is getting hammered and citizens are getting hammered over inflation

Have a drink ABC. You’re part of it. 👿

Why? Everybody knew they werent done raising rates

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