Good evening.
Stocks and crypto rebound, Fed decides to slow its money printer, and Pelosi says Congress members should be allowed to trade.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Wednesday after the Fed’s final policy meeting of the year.
The U.S. central bank said it will move more quickly to wind down its support and signaled that it will raise interest rates next year.
Markets reacted positively as the decision was in line with expectations.
Investors now have a more clear understanding of the Fed’s timeline, removing uncertainty from the market.
The crypto market climbed on Wednesday, with Bitcoin trading near $49k, as digital assets gained with stocks.
Catch Up
The recorded number of coronavirus deaths in the U.S. surpassed 800,000 on Tuesday.
House Speaker Pelosi rejected the idea of banning stock trading for members of Congress.
Fed's Powell says he doesn't see crypto as 'financial stability concern.'