US stocks dip after Fed rate decision

Disappointed investors bid stocks lower today after the Federal Reserve, raising interest rates for the 14th time in nearly two years, failed to give Wall Street a clear signal on when those rate hikes would end.

In its statement accompanying the quarter-point increase in rates, the central bank said “some further policy firming may be needed” to keep inflation under control – leaving the door open for another hike at the next meeting in March and beyond.