depositors that their funds remain safe and that the Fed continues to use all its available tools to head off more problems. The S&P 500 and NASDAQ indices also finished the day down about 1.6% each.Īt a news conference after the announcement, Powell addressed lingering concerns around the banking sector, reassuring U.S. The Dow Jones Industrial Average closed more than 500 points lower, or about 1.6% down. “The extent of these effects is uncertain,” the statement continued, sounding a note of caution over the likelihood of further rate hikes as the Fed looks to get inflation back down to its 2% target.Īfter it jumped immediately after the decision, markets nosedived. and overseas, they warned that “recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation.” That means potentially higher borrowing costs for home and car loans to steeper credit card interest rates. Representative Jane Harman, a California Democrat, has found herself in the crosshairs of a potential scandal.But after a series of historic collapses and rescues of lenders in the U.S. Newer approaches for irritable bowel syndrome are more targeted than ever.
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