Investors steered clear of placing big bets ahead of an interest rate decision by the Fed later in the day.
Delta Air Lines up on upbeat 2023 outlookDec 14 - Wall Street's main stock indexes inched up on Wednesday, as investors steered clear of placing big bets ahead of an interest rate decision by the Federal Reserve later in the day.
Concerns over the Fed staying the path on rate hikes had tempered an early rally on Wall Street on Tuesday following data that showed U.S."The stock market will reward improving inflation for a while. We're still in the sevens , and I think you can get down to fours without unemployment rising but it's going to be very difficult to get back to the target rate," said Andrew Slimmon, managing director at Morgan Stanley Investment Management in Chicago.
The U.S. central bank has raised its policy rate by 375 basis points so far this year to a 3.75%-4.00% range from near zero, the fastest rate hikes since the 1980s.
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