Stocks gain, US yields fall before likely Fed pause
NEW YORK/LONDON -A gauge of global equities rose and Treasury yields eased on Wednesday from multi-year highs hit the day before as the market awaits a likely pause in the Federal Reserve's interest rate hiking campaign to tame inflation that's still too high.
Members of the policy-setting Federal Open Market Committee"are very happy with the situation they're in, which is they've got inflation trending down without a cost to growth or employment," said Brad Conger, deputy chief investment officer at Hirtle Callaghan & Co in Conshohocken, Pennsylvania. "They can ignore a very short term spike," Conger said."But if we keep going higher, then their radar is going to be triggered and they're going to be much more willing to put in another preventative hike."
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