Fed Says Banking System Is Resilient & KVYO, CART, ARM IPO

The U.S. banking system is sound and resilient, according to the Fed. Kevin Hincks gives a recap of the Fed announcement as the FOMC leaves the target range for Fed funds rate at 5.25%-5.50%. The Fed committee will continue to monitor the implications of incoming information for the economic outlook. Renita Young then looks at recent IPOs. She talks about how Klaviyo (KVYO) debuts on the NYSE. The stock is up after the IPO, whereas the Instacart (CART) and Arm Holdings (ARM) continue to slide post-IPO. Tune in to find out more about the stock market today.