The Fed's Hawkish Pivot Didn't Fix The 10-Year Yield; S&P 500 Slides

The Federal Reserve hiked its key interest rate, as expected, and a majority of policymakers expect to do so again later this year, new projections showed. The S&P 500 and 10-year yield initially responded well to the hawkish Fed meeting outcome, but things deteriorated toward the end of Chairman Kevin Warsh’s news conference. The 10-year Treasury yield, whose rise to…