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A Post-Fed Rally Should Sow ‘Deep Suspicion’: Wall Street Reacts

  • The economic forecasts are still too optimistic, says Winograd
  • Tech stocks face the stiffest valuation re-pricing: Samana
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Fed's Powell: There's No Painless Way to Beat Inflation
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US stocks swung wildly and the rout in Treasuries eased after investors speculated that the Federal Reserve may have become as hawkish as it will be during its battle against inflation.

The S&P 500 closed down 1.7% after gaining as much as 1.5% earlier on the day the Fed raised rates by 75 basis points and officials’ projections for year-end increases rose at least another one percentage point. The 2-year Treasury yield held just above 4%.