The Federal Reserve approved its third consecutive interest-rate rise of 0.75 percentage point and signaled additional large increases were likely at upcoming meetings as it combats inflation that remains near a 40-year high.
Major U.S. stock averages closed near session lows after swinging between gains and losses during Fed Chairman Jerome Powell's press conference. Shorter-term Treasury yields rose. Read our full daily markets round-up here.
The euro dropped and oil prices fell. Vladimir Putin announced a mobilization of Russian reservists and threatened a nuclear response in the war in Ukraine; President Biden responded in a speech. Elsewhere, big bank CEOs were in Washington.@Daily_Discussion
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