S&P 500 Hits Record as Traders Brush Off Fed Signs: Markets Wrap
- Fed Minutes signal officials on hold until inflation improves
- Treasuries rise as Fed minutes reveal discussion of QT pause
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Stocks closed at all-time highs as traders looked past signals the Federal Reserve is in no rush to cut interest rates.
Just as in the previous session, equities gained traction in the final stretch of trading. That was after the Fed minutes only reiterated the cautious stance by US policymakers amid economic strength and stubborn inflation. Treasuries advanced as officials also discussed pausing or slowing the balance-sheet runoff until the debt-ceiling drama is resolved.