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Wall Street slips as Fed signals two more hikes this year


By Caroline Valetkevitch(Reuters) - The Dow and S&P 500 were down slightly in afternoon trading on Wednesday after the Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes in the coming months.Two additional hikes are now expected by the end of this year, compared to one previously.In its decision on Wednesday, the Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of between 1.75 percent and 2 percent."The statement was a bit hawkish relative to market expectations, and that's why we're not getting a ...

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First Published: Thu, June 14 2018. 01:37 IST