1419 ET - A relatively muted reaction in the stock market from the Fed's move to hike rates by 1/4 percentage point to a range of 3.75% to 4.00%. The Fed statement says "Inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2 percent goal. The Committee will deliver price stability." The DJIA is flat at 52,082, the S&P 500 is up 0.3% to 7611 and the Nasdaq rises 0.7% to 26,168, all little changed from where they were prior to the Fed decision.
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