Markets tumbled into the close as investors weighed Fed Chair Jerome Powell’s comments at the press conference after the Fed hiked interest rates 25 basis points. At the same time, Treasury Secretary Janet Yellen testified to a Senate committee that there were no plans for broad increases in deposit insurance. Former Chairman of the Council of Economic Advisers Jason Furman and Evercore’s Roger Altman reacted to the Fed’s move while Quadratic Capital’s Nancy Davis and Jefferies’ David Zervos digested the market sell off. Plus, Zelman & Associates’ Alan Ratner on KB Home earnings and Brad Slingerlend, NZS Capital Co-Founder, on trading tech after the Fed.
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Closing Bell