10/31-11/04 Fed Announcement, 75 Base Point Hike

This week the Fed raised interest rates by 75 basis points which would've marked the end of the interest rate hike plan. Recently the stock market rallied through tech earnings and after a volatile session during Powell's announcement, the market finally gave up some gains. It has definitely been a tough year for the stock market and we still have one more Fed meeting in December before year end. The question that is in everybody's mind is "Is the interest rate hike going to be another 75 points or go down to 50 points?". During the Fed conference this week, Jerome Powell made it very clear that the Fed has no intention of stopping the rate hikes as long as data shows inflation lingering. One thing is for certain, investors will be looking forward to upcoming November's PPI and CPI data for guidance. Mark your calendars for December 14th for the next Fed interest rate announcement and expectations for 2023.