Inflation and China Covid rules ease two heads of the dragon slayed


U.S. Federal Reserve Board Chairman Jerome Powell takes questions from reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022.

Elizabeth Frantz | Reuters

The stock market initially soared Tuesday after a softer-than-expected report on November consumer prices gave investors hope that the worst of the decades-high inflation might be behind us. While that may still be the case, equities later gave up most of their gains ahead of the Federal Reserve’s highly-anticipated interest rate decision Wednesday afternoon.