TheStreet.com
Stock Market Live: Stocks Slide As Hawkish Fed Minutes, Jobs Data, Rekindle Inflation Concerns
U.S. equity futures moved lower Thursday, while the dollar bumped higher against its global peers, as investors sifted through details of the Federal Reserve’s inflation debate and focused on stronger-than-expected jobs data that has rekindled inflation concerns. Minutes from the Fed’s December policy meeting, when officials agreed their seventh rate hike of the year, indicated concern that financial markets, as well as the public, would question the central bank’s resolve to fight inflation if it were to signal softer-near term rate hikes. As it stands, the Fed is prepared to endure “below trend growth” in order to ease inflationary pressures, adding policymakers would need to see it “substantially more evidence of progress to be confident that inflation was on a sustained downward path.”
