BREAKING STORY

A specific event in the last few hours that changes something — an earnings surprise, a regulatory action, a policy decision, a deal.

Fed Under Warsh Raises Rates, Betting On 2% Inflation By 2029

Wall Street now believes the central bank will tame inflation with only modestly higher borrowing costs, according to MarketWatch's read of the decision.

The Federal Open Market Committee under new Fed Chair Kevin Warsh raised interest rates, marking the seventh rate-hiking cycle since 1990, and investors are now studying that history for clues on what happens next to stocks.

BREAKING STORYBEARISH

Fed and Bank of Japan Both Hike Rates, Dollar Holds Gains as Yen Slides

Investors are now debating whether the Fed's move opens a new tightening cycle or was a one-off, wire commentary from the past 24 hours shows.

The Federal Reserve raised interest rates and the Bank of Japan followed with its own hike, but the dollar strengthened while the yen weakened, leaving currency markets split on which central bank's hawkishness matters more.

BREAKING STORY