Dow Posts Its Worst Day Of The Year After Federal Reserve Maintains Interest Rates
['Antonio Pequeño Iv']
Forbes - Business
Topline The Dow Jones Industrial Average tumbled to its worst day of the year Wednesday, falling over 2% after the Federal Reserve left interest rates unchanged as central bank officials have appeared conflicted on how to handle mounting inflation concerns.
Photo by Spencer Platt/Getty ImagesKey FactsThe Dow closed down 2.2%, falling 1,153 points to its lowest point in over four weeks.
The Federal Reserve cut interest rates multiple times last year, bringing them down to between the 3.5%–3.75% range by the end of the year.
Bank of America analysts expect interest rates to be hiked repeatedly before the year is over, potentially reaching the range between 4.25% and 4.5%.
Further ReadingFed Keeps Interest Rates Unchanged As Dissent Mounts (Forbes)