Stocks closed mixed as the U.S.Federal Reserveraisedinterest ratesagain today hike no.
11 since March of 2022, as the central bank tries to stamp down record inflation.
He wouldnt be pinned down on if or when.
Federal Reserve Chair Jerome PowellAP Images
Possibly, we would raise [rates] again if the data warranted at the September meeting.
And I would also say, we could choose to hold [rates] steady, said Powell.
It all, still depends on the data.
Inflation doesnt respond immediately to interest rate hikes but the impact is over time, Powell acknowleged.
Thats largely because the job market has continued with unemployment low strong despite rising rates.
Stocks, including media shares, were mixed.
Discovery closed up 1.8%, Paramount gained 2.5% and Lionsgate nearly 5%.
Disney nose up 0.27%.
Comcast dipped 0.9%, Netflix 1.18%.
