Stocks pushed into positive territory Wednesday afternoon after the Federal Reserve’s latest meeting minutes provided more clarity on the central bank’s thinking about addressing inflationary pressures. Investors also eyed a fresh print on the state of consumer spending in the Commerce Department’s latest retail sales report, which showed a larger-than-expected rebound in consumption at the start of the year.
The S&P 500 turned slightly positive and recovered losses after dropping as much as 0.9% earlier. In the Fed’s latest meeting minutes, central bank officials reiterated they were eyeing a near-term interest rate hike and would determine timing of their balance sheet reduction process “at upcoming meetings.” The minutes, however, made no mention of discussion of a potential 50 basis point rate hike at the Fed’s March meeting. Speculation that a rate hike of that magnitude might…
