FedSeptember 16 at 02:39 PM

Fed Chair Warsh (Q&A): Can't effect any individual prices in regards to oil, but what we can do, and will do, is ensure that any change in relative prices don't broaden out, don't have second and third-order effects on the economy

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Fed Chair Warsh emphasized containing second-order inflation from surging oil prices as the Fed raised interest rates by 25 basis points amid elevated energy costs and 3.4% CPI inflation.

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Fed Chair Warsh (Q&A): Can't effect any individual prices in regards to oil, but what we can do, and will do, is ensure that any change in relative prices don't broaden out, don't have second and third-order effects on the economy

What do investors think?

Today's market highlights

FOMC Summary of Economic Projections: Only 18 of 19 members submitted forecasts (expectations were for Warsh to not submit forecasts)

Fed hikes rates by 25bps to 3.75-4.00%, as expected; unanimous decision

FOMC STATEMENT COMPARE: