You're listening to Closing Bell in Progress.

That chair Jay Powell just wrapping up his news conference after the Federal Reserve lifts

interest rates again 75 basis points.

The fourth time in a row we have seen this jumbo sized interest

rate hike a signal in there from the Fed chair and from the statement that

smaller hikes may be coming as soon as the next meeting in December.

That was welcome news initially to the market.

You saw that spike earlier

when the statement referenced the lags

and cumulative impact of monetary policy.

However, Fed Chair Powell himself did sound more hawkish

in the news conference. He talked about the fact that we might ultimately see the

level of interest rates be higher than what we thought in the September meeting.

He still made it very clear that we are in the mode of fighting inflation and that we are still

seeing ongoing interest rate increases.

He said don't, basically it's premature to be

thinking about a pause in interest rates. There's the S&P 500. It is now

lower down 1.2 percent. So we lost that initial gain on the hints and the enthusiasm about a

potential smaller interest rate height coming up on the special

addition of closing down we've got a great lineup to break down the Fed

decision chair Powell's comments including former Barclay We've got a great lineup to break down the Fed decision.

Chair Powell's comments including former Barclay CEO Bob Diamond,

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