Wall Street ends higher after choppy trading ahead of Fed

NEW YORK, Sept 20 — Wall Street’s main indexes closed higher on Monday after seesawing during the session as investors wait to see how aggressively the Federal Reserve will hike interest rate hikes at this week’s policy meeting.

Unexpectedly hot August inflation data last week also raised bets on increased rate hikes down the road, with the terminal rate for US fed funds now at 4.46 per cent. Focus will also be on new economic projections, due to be published alongside the Fed’s policy statement at 2pm ET on Wednesday. “The Fed will continue to plough along, we’ll get 75 on Wednesday, but what comes next and whether they are going to pause or not after Wednesday, that is going to be the interesting part,” said Bel Air’s Markman.

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