US Stocks Rebound After Federal Reserve Rate Hike
US stocks climbed on Thursday morning following a sell-off sparked by the Federal Reserves decision to raise interest rates by 0.25 percent. The central bank acted to combat persistent inflation. Major indexes recovered early losses supported by falling Treasury yields.
United States equities rebounded on the morning of September 17, climbing after a sharp sell-off triggered by a 0.25% interest rate hike. The Federal Reserve raised its benchmark rate to a range of 3.75% to 4% on the afternoon of September 16. The move marks the central bank's first rate increase since July 2023.
The unanimous FOMC decision aims to curb inflation that has stayed above the 2% target for more than five years. Fed Chairman Kevin Warsh said the committee's vote demonstrates resolve to restore price stability. West Texas Oil prices and Treasury yields both moved lower during the morning session.
