May 8, 2023 Market Update
- James C. McGrath
- May 8, 2023
- 1 min read
The Fed's still at it but fatigue is setting in. The FOMC raised the Fed Funds target rate by 25 bps (as expected.) It was the 10th hike in just more than a year--one of the sharpest sustained tightening stretches in history. Markets didn't react strongly, although the S&P 500 eased by -0.8% for the week.
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