Wall Street indices experienced a significant upswing on Wednesday, hitting fresh record highs after the Federal Reserve's announcement that kept interest rates steady while projecting up to three rate cuts in 2024. The decision, anticipated by the market, was made despite the latest inflation data surpassing previous estimates.
During a press conference, Fed Chair Jerome Powell highlighted the persistent issue of high inflation but noted that the current year's inflation metrics have not significantly altered the Fed's overall outlook, which anticipates a gradual decrease in inflation towards a two percent target.
