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Stocks tread water, dollar dips after latest Fed rate hike | The Malaysian Insight

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Stocks tread water, dollar dips after latest Fed rate hike

Major stock markets mostly retreat in anticipation of the US Federal Reserve’s move. – EPA pic, July 27, 2023.

WALL Street stocks tread water while the dollar dipped yesterday after the Federal Reserve lifted interest rates and signalled the possibility of further increases. The Fed as anticipated raised its benchmark lending rate to a range between 5.25% and 5.5%, with chair Jerome Powell saying during a press conference the central bank would let data determine whether to hike again.

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