Today’s market buzz

The Fed raised rates 25bps to 3.75%-4.00%, first hike since July 2023 after five consecutive holds. Chair Walsh said inflation is 'too high and has lasted too long'. The dot plot shows 16 of 18 officials project at least one more hike before end-2026, pointing to a new tightening cycle. The Dow fell over 600 points, S&P 500 down around 0.4%, Nasdaq near flat. The 10-year yield above 5% keeps pressure on high-valuation assets. The White House is pushing for cuts, at odds with most Fed officials.