Wall Street ends up, markets hail Fed’s firm stance
December 16, 2021
Wall Street weighed down by economy-sensitive cyclical stocks
December 17, 2021Peter Cardillo, Chief Market Economist from Spartan Capital Securities joins ET Now to weigh in on the US central agency, FED’s announcement of three rate hikes in 2022. The announcement has been met with relief on wall street with stocks rising steadily. Cardillo gives his opinion on the need for three rate hikes and the subsequent effects of the announcement on the market. He says that this signals that the ‘FED knows that it was wrong about inflation and now they are taking action to combat it.’ He adds that the move is ‘good news for the market.’ Keep watching to know more!
