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Good morning. Today is Thursday, September 22nd, and I'm your host Julie Morgan.

Our Top Stories.

FOMC Hangover, Travel, Meta, Boeing, Costco, Rio Tinto, and Kitty Hawk.

The major U.S. equity averages dropped on Wednesday following the announcement of the latest

interest rate increase from the Federal Reserve.

Wurries that the Fed would push the economy into recession led to a 1.7% drop in the

S&P 500.

All 11 S&P sectors eventually finished in negative territory.

The retreat was led by communication services, consumer discretionary, financials, and materials,

which each dropped more than 2%.

The bond market also saw volatility following. which each dropped more than 2%.

The bond market also saw volatility following the Fed announcement.

Ultimately, the 10-year Treasury yield dropped 5 basis points to 3.52%, and the 2-year

yield was up 7 basis points to 4.03 percent after hitting a high of 4.12 percent.

Following its policy meeting, the Fed raised its key rate by 75 basis points but it was the dot plot in the

summary of economic projections that drove market action initially with the

median forecast calling for a Fed funds rate of 4.4% by the end of

2022. Yes this year. That would meet another 125 basis points of

tightening over two meetings. At his press conference, Powell said that his message remained the same as it was at

Jackson Hole and that he was still looking for compelling evidence that inflation was moving

...