|Day's range||1.1200 - 1.1200|
Wall Street fine tunes its views a day after the Federal Reserve lifted interest rates despite the banking crisis.
Yahoo Finance senior columnist Rick Newman discusses the Federal Reserve's decision to increase interest rates by 25 basis points and breaks down the long-term effects it could have on President Biden's fiscal policies.
Recent comments from Federal Reserve Chairman, Jerome Powell, highlighting the need for "faster tightening" of the money supply and for higher-than-expected interest rates in the coming months have further affected investor confidence. Investors can put as little as $100 in high-quality and fundamentally strong companies such as Bank of America (NYSE: BAC) or DigitalOcean (NYSE: DOCN) -- so long as the money isn't needed to cover expenses or contingencies -- to start building wealth now. Although the collapse of regional banks such as Silicon Valley Bank and Signature Bank has rocked financial markets, Bank of America may emerge a winner in these tumultuous times.