Stock futures add to declines after Fed’s interest rate outlook

Guggenheim Partners co-founder and global CEO Scott Minerd gives his outlook on interest rates in the future on ‘Kudlow’

U.S. equity futures were trading lower after Federal Reserve officials indicated they expect higher interest rates by late 2023.

The major futures indexes suggested a decline of 0.4% when the Thursday trading session begins on Wall Street.

On Wall Street, the benchmark S&P 500 index fell 0.5% Wednesday after Fed projections showed some of its board members expect short-term interest rates to rise by half a percentage point by late 2023. Ultra-low rates from the Fed and other central banks have propelled a global stock market rebound from last year’s plunge amid the coronavirus pandemic.

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The Fed’s announcement reflected growing confidence in the U.S. economy as more people are vaccinated against the coronavirus and business activity revives.

Investors have worried the Fed and other…

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