US stocks rally, dollar retreats as Fed lifts interest rates

The decision - which follows weeks of anticipation and speculation as Fed officials have vowed a tough response to inflation - came as European officials proposed a gradual ban on Russian crude, lifting oil prices.

Powell said half-percentage point increases"should be on the table at the next couple of meetings," but added that a three-quarter point increase"is not something the committee is actively considering". Art Hogan, strategist at National Securities, said the Fed's decision met expectations but contained"no hawkish surprise", adding that stocks could push higher in the coming sessions.Some analysts have viewed the stock market as positioned for a potential rally after suffering deep losses in April amid worries over the Fed.

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Stocks inch up, US yields near 3% as markets ready for Fed hikeMILAN : World stocks rose slightly on Tuesday and U.S. 10-year Treasury yields held near 3 per cent as investors prepared for the Federal Reserve's biggest rate hike since 2000.In a busy week for central bank meetings, Australia's central bank raised its key rate by a bigger-than-expected 25 basis points
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