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Wall Street stocks down after Fed minutes: Is Fed done raising rates?
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💡Summary: Fed policymakers divided in July over the need for more rate hikes. Banks extend losses. US stocks remain lower after Feder Show More
💡Summary:
Fed policymakers divided in July over the need for more rate hikes.
Banks extend losses.
US stocks remain lower after Federal Reserve minutes.

Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated. "With inflation still well above the Committee's longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy," the meeting summary stated. That latest increase brought the Fed's key borrowing level, the federal funds rate, to a range targeted between 5.25%-5%, the highest level in more than 22 years.

After briefly extending losses following the release of the minutes for the Fed's July interest rate meeting, the S&P 500 was last down 0.07% at 4,434.69 points. The Nasdaq declined 0.36% to 13,581.69 points, while the gold prices fell to session lows as the Fed minutes signaled it might not be done raising interest rates. (As of Aug 16, 2023, 2:50 PM ET)

🎙️Q:
1. Will interest rates go down soon?
2. What's your Investment strategy in the Face of a strong USD?

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