- November 3, 2022
- Posted by: Stratford Team
- Category: Economy
- U.S. stocks lower in early trading
- Dollar eases across the board
- All eyes on Fed; 75 bps hike anticipated
NEW YORK, Nov 2 (Reuters) – Global stock indexes fell and the dollar was slightly lower against other major currencies on Wednesday ahead of what is expected to be another aggressive interest rate hike from the U.S. Federal Reserve later in the day.
U.S. Treasury yields were little changed.
The U.S. central bank is expected to announce a fourth three-quarters of a percentage point increase, part of its effort to bring down inflation. The policy statement from the bank’s Federal Open Market Committee (FOMC) is due at 2 p.m. EDT (1800 GMT).
The Fed has raised its benchmark overnight interest rate from near zero in March to the current range of 3.00% to 3.25%.
The key question for some market participants is whether the Fed will also signal it could slow additional rate hikes, in a so-called dovish pivot.
Analysts said uncertainty over how economic data would…
