- June 17, 2021
- Posted by: Stratford Team
- Category: Business
WASHINGTON (AP) — The Federal Reserve signaled that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. The policymakers forecast that they would raise their benchmark short-term rate — which affects many consumer and business rates, from mortgages to auto loans — twice by late 2023. They had previously estimated that no rate hike would occur before 2024. But at a news conference, Chair Jerome Powell sought to dispel any concerns that the Fed might be in a hurry to withdraw its economic support by making borrowing more expensive.
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Stocks down, yields up as Fed discusses dialing back support
NEW YORK (AP) — Stocks fell on Wall Street and bond yields rose Wednesday after Federal Reserve…
