Daily Wrap -FOMC Wrap Up

The stock market was higher earlier, but confined to a narrow trading range until the FOMC rate hike decision at 2:00 p.m. sparked chaotic price volatility. The FOMC voted unanimously to raise the target range for the Fed Funds Rate by 75 basis points, as expected, to 3.00-3.25% and suggested that further rate increases will…

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