In its first meeting since the collapse of two U.S. banks this month and the downfall of ailing European lender Credit Suisse, the Fed on Wednesdayby a quarter of a percentage point and indicated it was on the verge of pausing further increases in borrowing costs.
It was a message long awaited by many investors, after the S&P 500's fall by nearly a fifth last year as the Fed launched its most aggressive monetary policy tightening cycle since the 1980s. Yet some fear the rapid rises in rates are only starting to ripple through the U.S. economy, and remain wary of jumping into stocks amid banking sector turmoil, a downbeat outlook for corporate profits and a looming recession.
"Macroeconomic policy and the outlook for the economy is more complicated than it was two weeks ago," said Anthony Saglimbene, chief market strategist at Ameriprise Financial, who is holding a lighter than normal equity allocation. "In that highly uncertain environment, you need to navigate it by being a little bit more cautious and a little bit more defensive," he said.
Powell never said rate hikes may soon end. Go read the transcript and change your headline to be more accurate.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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