NEW: Credit Suisse clients pull a record $120 billion in the fourth quarter, as a fifth-straight quarterly loss caps the Swiss lender's worst year since the financial crisis trib.al/nyJFjjm
The #Fed hiked by 25 bps as widely expected.
Those hoping for a change to the “ongoing increases” phrase are disappointed as the Fed is not ready yet to signal an imminent end to the hiking cycle.
For the press conference, look for journalists to push Chair Powell on the outlook.
The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time
#Forex#Fed