Stock Market Today: Stocks Swing Higher After Powell Presser

The Fed raised rates by 0.25%, as expected, and Powell promised to "stay the course until the job is done."

Fed Chair Jerome Powell taking questions at a press conference
(Image credit: Getty Images)

Stocks spent most of Wednesday in negative territory as an onslaught of economic and earnings reports rattled investors early on. These losses quickly accelerated immediately after the central bank issued its latest rate hike, but stocks swung higher as Fed Chair Jerome Powell took the mic in a subsequent press conference. 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.