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With another rate hike, has the Fed just pushed US towards a bear market?

In its decision on Wednesday, the Fed raised benchmark overnight lending rates by 0.25 per cent to a range of 2.25 to 2.50 per cent

Lewis Krauskopf | Reuters  |  New York 

U.S. stocks took another body blow on Wednesday after the Federal Reserve raised interest rates again and the central bank chairman did not soften his tone about the outlook for further financial tightening to the degree investors had hoped. Now the question is whether Powell's message that the U.S. economy should be strong enough to stand on its own without further assistance from the Fed will be the catalyst that tumbles stocks to bear market levels. "It takes away the idea that the Fed is a friend at this point," said Bucky Hellwig, senior vice president at BB&T ...

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First Published: Thu, December 20 2018. 05:39 IST
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