Investors: Sept. 16 Will Be a Critical Day for the Stock Market. Here's What You Need to Know.
The Federal Reserve's fight against inflation could pick up, and soon.
Overview
On Wednesday, Sept. 16, the Federal Reserve will announce its latest decision on short-term interest rates. The group's decision will have ramifications for the economy and the stock market. CME Group's FedWatch tool was estimating a 60% chance of a rate hike as of Sept. 8, after the August nonfarm payrolls report showed jobs had grown well above analysts' consensus expectations.
For the S&P 500 (SNPINDEX: ^GSPC), Nasdaq Composite (NASDAQINDEX: ^IXIC), and Dow Jones Industrial Average (DJINDICES: ^DJI), a rate hike would likely be a bearish outcome, albeit a transient and relatively minor one. The bigger and longer-lasting impact could come from what the new Fed Chair, Kevin Warsh, says about the ongoing fight against inflation in light of the Fed's action (or inaction).
Details
Here's what you need to know in advance of the event.
Source
Originally published at www.fool.com.
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