NewsWare’s Trade Talk: Thursday, September 22

S&P Futures are trading higher this morning in the aftermath of yesterday's FOMC announcement where the Fed increased rates by 75 basis points. Fed chair Jerome Powell's tone at yesterday's press conference was rather hawkish. His comments emphasize that interest rates will be higher and for a longer period of time while downplaying the recent positive economic news.  The Fed's median projections see another 125 basis points of increases to the year-end. They also see the fed funds rate rising above 4.5% next year. CEO's from the major banks will be appearing today in front of the Senate banking committee. The Bank of England is expected to raise its benchmark interest rate this morning as well.