Wall St. set to open lower after Fed's hawkish stance
The Fed, as expected, said it would begin to reduce its approximately $4.2 trillion in holdings of U.S. Treasury bonds and mortgage-backed securities – acquired in the years after the 2008 financial crisis – from October. While the central bank left rates unchanged, it cited low unemployment, growth in business investment and an economic expansion that has been moderate but durable this year to build its case for another rate hike in 2017. Interest rate futures are now pricing in about a 70 percent chance of a December hike, according to CME’s FedWatch tool, up from above 50 percent prior to the Fed meeting.
Source:: https://finance.yahoo.com/news/futures-flat-fed-signals-third-rate-hike-112933433–finance.html
