The Federal Reserve approved a quarter-percentage-point interest-rate increase and signaled plans to raise rates again next month to continue lowering inflation.
The decision Wednesday followed six consecutive larger rate rises, including an increase of a half point in December and 0.75 point in November.
Stocks DJIA, -0.91% SPX, -0.30% were lower prior to the Fed statement. The yield on the 10-year Treasury note TMUBMUSD10Y, 3.482% was down slightly to 3.47%.