Treasury yields fall and major stock indexes rise on Fed rate hike announcement

Stocks are veering between gains and losses and Treasury yields are falling after the Federal Reserve announced its latest increase to interest rates in its campaign to drive down inflation. The move was exactly in line with Wall Streets expectations. The S&P 500 was 0.2% higher Wednesday afternoon. The Dow and the Nasdaq also rose. Indexes had been little changed through the morning ahead of the Feds decision. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as its last hike. The Fed gave a hint that it may not tighten the screws much more on the economy.