The Rate Hike Wall Street Expected

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 23 March 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Just because things go as expected doesn't mean the ripple effects aren't surprising.

(0:20) Andy Cross discusses:

- The Fed's 0.25% rate hike

- Unfortunate timing around Chairman Powell's press conference and Sec. Yellen's public testimony

- Why he's going to be paying more attention to annual reports in the coming weeks

(10:20) Nick Sciple and Jim Gillies face off in the semi-finals of our stock investing version of March Madness! Choose the winner by casting your vote in our Twitter poll @MotleyFoolMoney!

Companies discussed: RMAX, BWXT

Host: Chris Hill

Guests: Andy Cross, Nick Sciple, Jim Gillies

Producer: Ricky Mulvey

Engineers: Steve Broido, Rick Engdahl

Transcript

Click on a timestamp to play from that location

0:00.0	It's rare that we offer unsolicited advice to the good people on Capitol Hill, but today
0:10.6	is just one of those days.
0:12.3	Motley Fool Money starts now.
0:18.0	I'm Chris Hill.
0:19.5	As promised, joining me today at the Chief Investment Officer Andy Cross.
0:22.4	Thanks for being here.
0:23.4	Chris, thanks for having me.
0:25.9	So we got the quarter percent rate hike on Wednesday afternoon.
0:31.4	This kind of went as expected in terms of the rate hike and the language around it.
0:38.0	And when you look at the reaction on Wall Street and the investing community today, things
0:45.8	seem good.
0:46.8	I hate to generalize like that, but just in the moment, this seems like, okay, this
0:51.8	went as expected and the markets reacting positively.
0:54.9	Well, I think if you have the chairman of the Federal Reserve, Chris, and the Secretary
1:00.7	of the Treasury testifying or giving comments at the same time on an announcement when
1:08.2	they raise interest rates, I think most people would probably qualify or categorize that
1:14.5	as that's pretty unusual.
1:16.8	So that's what we had last.
1:18.5	So we had yesterday, Chris, and the markets did not react nearly as positively today, because
1:23.6	I think of the dual hit between an increase in interest rates and continued tough talk
1:32.4	by Chairman Powell about making sure that the markets understand his commitment and the
1:39.0	FMOMC's commitment to fighting inflation with higher interest rates.
	...

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