Stock market today: Dow ends down as Fed hikes, Powell shoots down rate-cut bets By Investing.com

The Federal Reserve lifted rates by 0.25% and signaled at least one more hike this year, but Fed chair Jerome Powell was quick to dismiss any rate cuts this year.

“FOMC participants don't see rate cuts this year, it is not our baseline expectations," Powell said at the press conference that followed the monetary policy decision and updated projections. Ahead of Powell’s comments, market participants were forecasting rate cuts later this year. Still, some on Wall Street suggest the tightening in credit conditions - following the wobble in the banking system - will serve the same role as monetary policy tightening and play a bigger role in the Fed's future monetary policy decision.

Bank of America, citing tighter lending standards, said it now only expects one more 25 basis points rate hike to lift rates to a terminal range of 5.0 to 5.25%, down 25bp from its prior target terminal range.as investors were forced to rethink rate cuts that some believed were needed to help restore confidence in the banking system.

It wasn't powell it was Yellen who dumped the market.

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Wall Street better get used to the fact that the EASY MONEY days are OVER. The money printer is off. Go make money like your fathers and grandfathers, during the 80's when we had 20+ Interest Rates. Daddy's credit card has been confiscated

No rate cuts, but possibly no rate hikes, at least one good takeaway

Duhuuuuu

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