Markets ‘not thrilled’ after another interest rate hike

Updated: Dec 15, 2022 / 10:14 AM CST

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(NewsNation) — Stocks were opening lower Thursday following another interest rate hike by the Federal Reserve.

This rate hike, which is aimed at slowing inflation, is smaller than previous ones. But Federal Reserve Chairman Jerome Powell said while inflation data received in October and November shows a “welcome reduction” in the pace of price increases, it will take “substantially more evidence” to demonstrate that inflation is on a sustained downward path, Reuters reported.

“That’s why markets were not thrilled about what the Fed was saying,” NewsNation business contributor Lydia Moynihan said on “Morning in America.”

Watch the full interview in the video above.