Closing Bell: Stocks Seesaw, All Eyes On The Fed and Crypto Winter 6/14/22
It was a wild ride on Wall Street. Stocks rallying at the open before sinking sharply into the red and then staging a comeback late in the session as investors remain on edge ahead of tomorrow's Fed decision. Goldman Sachs Chief Economist Jan Hatzius on growing expectations the Federal Reserve will raise interest rates by 75 basis points tomorrow and the impact that will have on inflation and the economy. But Fmr. Kansas City Fed President Thomas Hoenig explains why he still thinks the Fed will only raise interest rates by 50 basis points and cautions 75 basis points would be a mistake. Mizuho's Dan Dolev reacts to Coinbase's CEO announcing layoffs and warning of a "crypto winter" ahead. And Jefferies Healthcare & Biotech Analyst Michael Yee on the FDA panel deciding whether to recommend Moderna's Covid vaccine for children ages 6 to 17.
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