The Fed Unanimously Raises Rates 25BPS

The Fed is clearly setting up for the possibility of a strategic pause at its June meeting or subsequent meeting, notes Joe Brusuelas. He discusses how the Fed raised rates by 25BPS. He talks about how the Fed opens the door to a rate hike pause. The Fed rate hike decision was unanimous. The Fed repeats that the U.S. banking system is sound and resilient. He notes that regional bank stocks are all up including PacWest Bancorp (PACW), Western Alliance (WAL), Metropolitan Bank (MCB), SoFi Technologies (SOFI), and Ziona Bancorp (ZION). He also goes over the chances of a recession with the new rate hike. Tune in to find out more about the stock market today.