Wall Street holds steady ahead of Fed decision on rates

Stocks are holding steady as Wall Street bides its time until the Federal Reserve announces whether it will tighten the screws further on the economy, according to an Associated Press report.

The S&P 500 was 0.1% lower early Wednesday. It’s coming off its first back-to-back gain in two weeks, before the second- and third-largest U.S. bank failures in history threw the industry into turmoil. A few weeks ago, much of Wall Street was convinced the Fed would pick up the pace on its hikes to interest rates given how stubbornly high inflation has remained. With banks straining under higher rates, that’s not as certain anymore.