- US stocks rose Thursday, with the S&P 500 up 1% and the Nasdaq Composite up 1.4%, rebounding from a post-Fed-hike slump on Wednesday.
- The Federal Reserve raised interest rates by 25 basis points for the first time in three years and projected one more rate hike this year.
- Fed Chair Kevin Warsh's hawkish rhetoric helped restore the Fed's credibility on inflation, according to analysts.
- President Trump criticized the decision, calling for lower interest rates and saying he spoke with Warsh ahead of the FOMC meeting.
- Oil prices ticked lower as US Energy Secretary Chris Wright said Saudi Arabia's East-West pipeline would be restored soon; Brent crude traded at $102 per barrel.
- The Bank of England voted to hold its benchmark bank lending rate steady at 3.75%.
Quotes
“You might as well vote with the board because it's not going to matter”