Wall Street sees past Fed’s lower rate hike to finish in red

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Reuters UK

By Lawrence Delevingne (Reuters) -Wall Street stocks dropped on Wednesday, while Treasury yields were flat and the dollar volatile, after the U.S. Federal Reserve announced that it would raise interest rates by half a percentage point but projected additional increases by the end of 2023, a rise in unemployment and a near stalling of economic growth. “The inflation data received so far in October and November show a welcome reduction…but it will take substantially more evidence to give confidence inflation is on a sustained downward path,” Fed Chair Jerome Powell said in a press conference. …

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