Should The Fed Have Raised Rates By 100 BPS?
b'Jerome Powell stated during today\'s Federal Reserve meeting that ongoing rate increases in a target range will be appropriate. How did the stock market react to the 75 basis point rate hike? "Some economists stated that there should have been a 100 basis point rate hike as the Fed is still behind the curve," says Tom White. However, Jerome Powell does not expect moves of 75 BPS to be common. "There are other reasons why the stock market moved higher today which include option expiration and quarterly rebalancing," adds George Tsilis.'