Frankfort, New York The US stock exchanges initially give way after the US interest rate decision. The US Federal Reserve is pausing after a rapid series of rate hikes. The Dow Jones index of standard values was at times around one percent lower. The broader S&P 500 fell only slightly. The index on the Nasdaq technology exchange was initially down 0.5 percent, but later turned positive again.
The Federal Reserve left the key monetary rate in the range of 5.0 to 5.25 percent on Wednesday. After ten steps up, she kept her feet still for the first time. The currency watchdogs first want to view more data and then decide whether to follow up or not.
“Whether or not this is the end of rate hikes for this cycle we don’t know yet, and neither does the Fed,” said Brad Bernstein, chief executive of UBS Wealth Management.
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