Equities have given up some gains for the day after the Federal Financial Institutions Examination Council, a regulatory body composed of the Federal Reserve and the Federal Deposit Insurance Corporation and other agencies, this afternoon warned banks to make sure they’re adequately protected against the risk of interest rate increases.
So, does this mean Fed rate tightening is a sure thing this year, or is this just a pro-forma notice?
The Dow, which traded as high as 10,610 today, briefly dipped down to 10,579 before rising to 10,592, up 18 points.
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